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The proposals in the UK Prime Minister’s speech on 17th January and the White Paper on 2nd February will require a new construct for cross-border regulatory coordination between the EU and the UK, which will operate in a complex legal and regulatory environment (outside the EU/EEA single market). CMS and the Legatum Institute Special Trade Commission have produced a joint report which looks at how the new UK/EU partnership might work in the field of financial services. Please visit our dedicated page on this report here.
The Challenge of Brexit: How CMS is helping its financial institution clients across Europe and beyond This brochure covers all FS sectors: insurance, banking and finance, payment services, securities and derivatives, funds and intermediaries etc. It describes the support available from CMS and the value added services available from RegZone. It lists the members of the financial services Brexit team from across CMS.
A referendum on Britain's membership of the European Union was held on 23 June 2016. On 24 June 2016 it was announced that the UK voted to leave the EU. The earlier "UK-EU settlement" agreed in February 2016 is no longer valid following a vote to leave. The Government gave notice to the European Commission in March 2017 to 'trigger' Article 50 and begin the process.
The proposals in the UK Prime Minister’s speech on 17th January and the White Paper on 2nd February will require a new construct for cross-border regulatory coordination between the EU and the UK, which will operate in a complex legal and regulatory environment (outside the EU/EEA single market). CMS and ...
1. EIOPA highlight risks of a no-deal Brexit The Joint Committee of the European Supervisory Authorities published its latest report on Risks and Vulnerabilities in the EU Financial System. The report highlights uncertainties surround the UK's exit from the EU. It states ‘Although there seems to be a “Brexit fatigue” in the financial sector, supervisors continue to encourage institutions to prepare...
1. BoE:The impact of Brexit on UK firms This BoE staff working paper assesses the impact of Brexit on UK firms with regard to levels of uncertainty, investment and productivity.
HoC: Brexit and financial services HoC has updated its Library briefing paper which considers equivalence and the potential impact of no-deal Brexit on the sector.
EC: EQUIVALENCE IN THE AREA OF FINANCIAL SERVICES The EC has set out its approach on equivalence and on recent legislative improvements in terms of how it grants equivalence to non-EU countries. It also describes how the EC and ESAs monitor the situation in those countries after equivalence decisions have been taken and how recent EU legislative changes have strengthened the equivalence framework....
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* Estimated date
Exit date is:
End of Brexit transition period
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