At the EU Summit today, the UK Government and European Commission agreed a revised Brexit deal, reaching agreement on the key outstanding issue of the Irish backstop and revising the terms of the future relationship. The European Commission has asked the European Council to endorse the revised Withdrawal Agreement and revised Political Declaration on the … Read more
Today the President of the European Commission, Mr Jean-Claude Juncker, wrote a letter to the President of the European Council, Mr Donald Tusk, stating that the European Commission and UK Government have reached agreement on a revised Protocol on Ireland/Northern Ireland and on a revised Political Declaration. Mr Juncker commented in his letter that: “I … Read more
The post below summarises the latest Brexit developments related to asset management. FCA Market Watch 61 and updated supervisory statement on MiFID transparency regime The FCA has published the October issue of Market Watch which focuses on no-deal Brexit planning, in particular, MiFID transaction reporting and the operation of the MiFID transparency regime. The FCA reminds firms … Read more
While the risks of a no-deal Brexit on the 31 October 2019 have greatly diminished, a no-deal Brexit is still firmly on the table for that date or, perhaps more likely, a future date. Our updated Brexit Legal Guide addresses in detail the legal position if the UK leaves the EU with or without a … Read more
In this blog post we summarise the latest Brexit developments related to asset management. EU Exit: FCA extends duration of TTP directions The FCA has updated the draft transitional direction and draft prudential transitional direction (with explanatory note) under its Temporary Transitional Powers (TTP). Key updates include: extending the proposed duration of the directions from … Read more
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
We were delighted to host a Brexit breakfast discussion, chaired by Nusrat Zar (Partner in our Public Law practice), on 26 September 2019 for our clients on the constitutional and political issues arising out the latest Brexit developments. This was timely as it followed the Supreme Court’s judgment the previous day on the unlawful prorogation … Read more
The UK Prime Minister, Boris Johnson, wrote yesterday to the European Commission President, Mr Juncker, to set out the UK’s plan for resolving the Irish backstop issue. The legal text of the plan shared with Brussel’s negotiators remains confidential at this stage, at the UK’s request, although the explanatory note has been shared. The UK … Read more
