Brexit Next: Legal Implications
The impact of Brexit - click here for the latest news on the impact in the financial services sector and here for a broader view for all businesses operating in, and trading with, the UK
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This article first appeared on Practical Law, and is published with the permission of the publishers. Overview On 10th April 2019, the FCA issued three publications concerning the general insurance (GI) sector, alongside a clear warning to firms operating in this sector. These publications comprise the FCA’s findings of its ...
1. HoC European Scrutiny Committee: 64th Report of Session 2017-19 Section 7 of the report discusses recent developments with regard to the powers of the EU’s supervisory authorities. Although the matter is no longer under scrutiny by the Committee, it has referred the matter to the attention of TSC. The ...
1. FCA: THE FUTURE OF FINANCIAL CONDUCT REGULATION A speech delivered by Andrew Baily on 23 April 2019 discussing, amongst other things, Brexit. The full speech can be accessed here. “Our regulatory landscape can be viewed as comprising two spaces, an EU and a non-EU one. By this I mean ...
On 21 November 2018 and 7 March 2019, we issued newsletters (respectively available here and here) regarding the Belgian proposal to create a new regulatory framework for managing general agents (“MGAs”) in Belgium (“Proposal”). The Proposal was included in the Belgian law of 3 April 2019 regarding the withdrawal of ...
In outline: On 11th April the EU published the text of the decision of the European Council in response to the UK’s request for a further extension of the Article 50 notice period (see Document 1 below and the UK acceptance at Document 2 below). The decision provides a second ...
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* Estimated date
The package of proposals introduced by the European Commission on 12 March 2018, particularly the draft Directive on the issue of covered bonds and covered bond public supervision (the CB Directive), is targeted to be implemented at EU level by end of May 2019.
Capital Markets Union to be completed by then
The European Commission signposted in its roadmap document that mid-2019 is the period by which the following will be in place: fully functional backstop to the Single
Resolution Fund; implementation of the European Deposit
Insurance Scheme; finalising all pending legislative initiatives for Capital Markets Union.