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

Brexit corporate update

The European Council has agreed to a “flextension” of the Brexit deadline. This means that the UK will now leave the EU on 31 January 2020, unless the UK Parliament ratifies the revised Brexit deal before then, in which case exit day will be brought forward. See our blog post here for further detail. It … Read more

Upcoming UK General Election – what does it mean for Brexit?

Both the House of Commons and House of Lords have voted in favour of the Early Parliamentary Election Bill scheduling a General Election for 12 December 2019. Parliament is now expected be dissolved at one minute past midnight on 6 November 2019 which will trigger the official start of the General Election campaign and the … Read more

Dispute resolution choices for banks and financial institutions in a post-Brexit world: opting for arbitration?

The post below was first published on our Arbitration blog Partner Andrew Cannon and Senior Associate Hannah Ambrose have authored an article for Butterworths Journal of International Banking and Financial Law, discussing the suitability of arbitration as a dispute resolution mechanism for banks and other financial institutions post-Brexit. The article explores the current uncertainty surrounding … Read more

Updated: European Council agrees Brexit “flextension” to 31 January 2020

Today, Mr Donald Tusk, the President of the European Council, confirmed that the EU27 will accept the UK’s request for a “flextension” of the current Brexit deadline (31 October 2019) to 11pm GMT 31 January 2020. This decision is expected to be formally confirmed through a written procedure adopted by the EU27 on Tuesday or … Read more