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 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

Brexit Corporate Update

As a no-deal Brexit on 31 October remains a possibility, below are details of some recent developments and webinars which are available, which may be of interest to corporate practitioners. FCA transitional arrangements The FCA has updated the draft directions under its Temporary Transitional Power (TTP). The TTP gives the FCA flexibility in applying post-Brexit … Read more

Brexit Corporate Update – Regulations on the prospectus regime

The Prospectus (Amendment etc.) (EU Exit) Regulations 2019 (SI 2019/1234), which will amend the prospectus regime to ensure that it continues to operate effectively in the UK in the event of a no-deal Brexit on 31 October 2019, have been made. The Prospectus (Amendment) Regulations will, among other things: transfer the prospectus supervisory functions of … Read more

Updated Brexit Legal Guide launched

Today our updated Brexit Legal Guide was released. Below is a message from our Chair and Senior Partner James Palmer which accompanied the updated guide. Dear clients and professional colleagues, The outcome of the June 2016 UK referendum on EU membership ushered in a period of increasing political turmoil in the UK. When I wrote … Read more

Brexit asset management update

In this blog post we summarise the latest developments related to asset management. EU Exit draft SI  The draft Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (SI) (with draft explanatory memorandum), which makes amendments to a number of financial services EU exit statutory instruments and to Commission Delegated Regulation (EU) 2015/61, has … Read more

Brexit corporate update: No-deal preparedness

As a no-deal Brexit (i.e. the UK leaving the European Union on 29 March 2019 without a withdrawal agreement in place) remains the legal default unless the European Union (Withdrawal) Act 2018 is amended ahead of that deadline, below are some developments that will be of interest to corporate practitioners in the event of a … Read more

Brexit Asset Management Update

In this blog post we summarise the latest Brexit developments related to asset management. Letters from UK financial regulators and HMT – preparations for no-deal Brexit FCA statement on operation of MiFID transparency regime post-Brexit FOS Q&As on effect of no-deal Brexit IOSCO Repository of Regulatory Initiatives for Brexit Preparedness FCA flowchart on EEA-firms operating … Read more

Brexit Corporate Update

In this blog post we summarise the latest developments in UK corporate law and regulation related to Brexit. FCA confirms Handbook changes in the event of no deal Accounting and corporate reporting in the event of no deal Takeover Code – rule changes for Brexit and asset valuations Read more