Navigating Brexit, and beyond
The Brexit transition period ended at 23:00 on December 31, 2020 and the UK-EU Trade and Co-operation Agreement has now come into effect.
The UK’s decision to leave the EU presents opportunities and challenges. Here, we set out some of the key issues businesses will need to consider.
Our Brexit Q&As provide the answers to some of the common questions
our clients have about the transition and beyond, tailored to your sector or industry.
Antitrust and competition
Choice of Law, jurisdiction and enforcement
Contractual and counter-party risk
Employment and labor Enforcement Implementation period Insolvency
Intellectual property Real estate and environment Tax
Following the end of the Brexit implementation period, the recast Brussels Regulation ceased to apply to the UK. At the same time, the UK acceded in its own right to the Hague Convention on Choice of Court.
As of December 31, 2020 (the Withdrawal Date), the United Kingdom (UK) is no longer a member of the EU Aviation Safety Agency (EASA) and the EASA regulatory framework ceased to apply from such date.
The United Kingdom’s (UK) departure from the European Union (EU) on January 31, 2020 and the subsequent expiry of the transitional provisions on December 31, 2020 has profound implications for trading activities in financial instruments and physical commodities.
Currently the UK is bound by the rules for choice of law set out in the Rome I Regulation (593/2008) (with respect to contractual obligations) and in the Rome II Regulation (864/2007) (which provides an ability for parties to adopt a choice of law for non-contractual obligations).
Join us as we take a look at the architecture of the UK regulatory regime following the end of the transition period, the regulatory rules that apply to firms, and where to find this material.
With every day that passes without apparent progress towards an agreement on financial services or equivalence, the more firms we see putting in place arrangements to enable them to continue business in different member states.
© Norton Rose Fulbright LLP 2021