The future UK-EU relationship – what is next?

“The election result represents a decisive choice by the UK electorate to proceed with leaving the EU and makes any reversal of that policy extremely unlikely. While leaving the EU undoubtedly carries considerable economic challenges for the UK, the majority that the Conservative Party enjoys in the UK Parliament gives it the power and responsibility … Read more

Brexit and Conflicts of Laws

This article has been extracted from our “A litigator’s yearbook: 2019 (England and Wales)”. If you would like to read the full yearbook (which covers key developments relating to a range of topics including jurisdiction, privilege, contract law, settlement and various aspects of court procedure), it is available on our Litigation Notes blog. The most significant … Read more

Capital controls in the UK?

The post below was first published on our Policy Matters blog Since the US Dollar departed from the gold standard in 1971 much of the world has abandoned or substantially relaxed capital and exchange controls. International trade and investment has grown dramatically since that time and it is acknowledged that open markets stimulate trade. The … Read more

Brexit and Fund Management: Are all regimes created equal?

This article was first published in Funds Europe (November 2019). In the context of Brexit, asset managers may consider equivalence as an option for accessing EU markets without obtaining separate authorisations in the absence of a financial services passport, particularly in relation to the management or marketing of funds, or other investment activities. The EU … Read more

Temporary Equivalence Decision for UK CCPs to be renewed

The post below was first published on our FSR and Corporate Crime blog European Commission Vice President Valdis Dombrovskis announced in a speech at the Guildhall in London last week that, ‘as the risk to financial stability has not yet been fully removed, because industry has not so far fully prepared’, he intends to renew … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: PRA statement on ACPR response to EIOPA recommendations for insurance sector The PRA has issued a statement regarding French regulator Autorité de contrôle prudentiel et de résolution’s (ACPR) response to the European Insurance and Occupational Pensions Authority’s (EIOPA) recommendations for the insurance sector in light of the … Read more

Upcoming UK General Election: The implications for the Brexit process

Last week, the UK’s Parliament was dissolved: triggering the official countdown to the 12 December 2019 General Election. The outcome of this General Election may be a defining moment in the UK’s Brexit process. Our updated Withdrawal Agreement Q&A and Leaving the EU – The process and preparations sections of our Brexit Legal Guide, amongst … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: FCA directions extending TPR notification period The FCA has published updated directions for firms intending to enter the temporary permissions regime (TPR), extending the time period during which notifications can be made until the end of 30 January 2020. These directions are directly … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. Statutory Instrument on cross-border distribution The Cross-Border Distribution of Funds, Proxy Advisors, Prospectus and Gibraltar (Amendment) (EU Exit) Regulations 2019 (with explanatory memorandum) which remedies certain deficiencies in retained EU law and UK domestic legislation arising as a result of the UK’s withdrawal from the … Read more