Financial services

FCA consultation paper and other listing regime developments

The Financial Conduct Authority (FCA) has published a second consultation paper (CP18/36) on amendments to the FCA Handbook to take account of Brexit. The Government has also published a bill on implementing legislation that has been adopted by the EU … Continue reading

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Filed under Corporate, Financial services

Five months to Brexit: avoiding a “no deal” crisis

Paul Butcher and Tom Henderson have published an article in FERMA/AIRMIC’s joint Brexit Newsletter advising risk management professionals of some of the key matters that they will need to consider to prevent a Brexit-related “no deal” crisis. Given it remains … Continue reading

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Filed under Aviation, Capital markets, Competition, Construction, Consumer, Contract, Corporate, Data protection, Disputes, Employment, Energy, Environment, Financial services, Infrastructure, Insolvency, Intellectual property, Manufacturing, Mining, Pharma, Planning, Real estate, Risk & due diligence, State aid, Tax, TMT, Trade, Transport

Brexit Final Political Declaration: Nothing [new] to see here?

On financial services, the final political declaration contains essentially the same three points as in last week’s outline political declaration (the implications of which were discussed in our blog post of 15 November, available here), although there is some limited … Continue reading

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Filed under Article 50, Financial services, UK-EU negotiations

Brexit Outline Political Declaration: Initial indicators for the financial services industry

Yesterday’s announcements on the terms agreed for the UK’s withdrawal from the EU say relatively little about the future framework for cross-border trade in goods or services. More detail is expected on this next week. The draft withdrawal agreement provides … Continue reading

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Filed under Article 50, Banking & asset management, Financial services, Insurance, UK-EU negotiations

Brexit deal – what does it mean for insurers and insurance intermediaries?

The post below was first published on our Insurance blog Yesterday’s announcements on the terms agreed for the UK’s withdrawal from the EU say relatively little about the future framework for cross-border trade in goods or services.  More detail is expected on … Continue reading

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Filed under Article 50, Insurance, UK-EU negotiations

“Onshoring” Statutory Instruments Comment Series: Bank Recovery and Resolution

Under the European Union (Withdrawal) Act 2018—which aims, amongst other things, to incorporate into UK law all applicable EU legislation and to give powers to Ministers to make such amendments to retained law as are necessary to deal with any … Continue reading

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Filed under Banking & asset management, Financial services

Brexit – Deal on financial services may deliver little for insurance industry

The post below was first published on our Insurance blog Press reports over the past couple of days suggest that a deal struck by the UK government would “give UK financial services companies continued access to European markets after Brexit” and that … Continue reading

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Filed under Financial services, Insurance

New ‘Perspectives from Asia’ podcasts available: ‘Interview with the British Embassy in Tokyo’ and ‘The view from the UK’

The latest additions to our Brexit series on the Herbert Smith Freehills Podcast channel are:

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Filed under Financial services, UK-EU negotiations

Brexit Continuity Clauses: what policyholders need to know

We have assisted Airmic to produce a guide for policyholders on Continuity Clauses, which some in the insurance market are using to prepare for the impact of Brexit. The clauses aim to provide a level of contract continuity in the event … Continue reading

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Filed under Insurance

First batch of UK Government’s Brexit ‘no deal’ technical notices released

Today the UK Government released the first of an anticipated three batches of technical notices about the impact of a “no deal” scenario at the end of March 2019. These are available here. This first batch is of 25 and … Continue reading

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Filed under "No Deal" UK papers, Banking & asset management, Employment, Energy, Financial services, Insurance, State aid, Trade, UK-EU negotiations