Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Category Archives: Brexit/UK Developments

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UK House of Commons Votes on the Brexit Bill and Government Issues White Paper

Posted in Brexit, Brexit/UK Developments
On February 1, the House of Commons voted on the European Union (Notification of Withdrawal) Bill (Bill), which, when passed, will allow the Prime Minister to notify the European Council of the United Kingdom’s intention to withdraw from the European Union. Further information on the Bill can be found in the Corporate & Financial Weekly Digest edition… Continue Reading

UK Supreme Court Rules That Article 50 Requires an Act of Parliament and Government Publishes Withdrawal Bill

Posted in Brexit, Brexit/UK Developments
On January 24, the UK Supreme Court issued its judgment in R (on the application of Miller and Dos Santos) v Secretary of State for Exiting the European Union—the appeal of the High Court of Justice’s decision of November 3, 2016—on the proper constitutional process that the UK government must follow in submitting notice to… Continue Reading

UK Announces Brexit Negotiating Principles

Posted in Brexit, Brexit/UK Developments, UK Developments
On January 17, UK Prime Minister Theresa May laid out the UK government’s negotiating principles for the United Kingdom’s departure from the European Union, which heralds a new, more substantive phase of the Brexit process. The Prime Minister’s theme for the speech was the creation of a “stronger, fairer and global Britain” alongside a “new… Continue Reading

Law Society Publishes Response to Consultation on the Regulatory Perimeter

Posted in Brexit, Brexit/UK Developments, Financial Markets, UK Developments
On January 10, the Law Society of England & Wales (Law Society) published its response to HM Treasury’s September 2016 consultation (Consultation) on amending the definition of “financial advice” for the purposes of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO) (the UK legislation that defines which activities are regulated and with… Continue Reading

Update on UK Brexit Challenge

Posted in Brexit, Brexit/UK Developments, EU Developments
On November 25, the UK Supreme Court published an update (Update) on its website concerning R (on the application of Miller & Dos Santos) v Secretary of State for Exiting the European Union (the Article 50 “Brexit” case). The Update confirms that the UK Supreme Court had considered and determined the outcomes of further applications… Continue Reading

Briefing Paper on Legislating for Brexit and the Great Repeal Bill Published

Posted in Brexit, Brexit/UK Developments, EU Developments, UK Developments
On November 21, the House of Commons published a briefing paper (Paper) that suggested legislation regarding Brexit and the Great Repeal Bill. The Paper covers topics including the likely features of the Great Repeal Bill, the process for repealing the European Communications Act 1972 (ECA), the transposition of EU law into UK law, other primary… Continue Reading

UK Treasury Committee Publishes FCA Letter on Asset Management, Financial Services and Passporting in a Post-Brexit Environment

Posted in Brexit/UK Developments
On November 8, the House of Commons Treasury Committee published a letter (Letter) it had received from Andrew Bailey, Chief Executive of the UK Financial Conduct Authority (FCA) (dated October 28). The Letter had been prepared in response to a number of questions raised at a Treasury Select Committee hearing held on July 20 (which… Continue Reading

UK Government Must Consult Parliament Before Triggering Withdrawal From European Union, Court Rules

Posted in Brexit/UK Developments
On November 3, a three-member panel of the High Court of Justice’s Queen’s Bench Division ruled that government ministers do not have the unfettered right to trigger the United Kingdom’s withdrawal from the European Union by submitting notice under Article 50 of the Treaty on European Union. In a strongly worded opinion citing English case… Continue Reading

Brexit and Passporting: FCA Statistics

Posted in Brexit/UK Developments, EU Developments, Financial Markets, UK Developments
On September 20, the UK House of Commons Treasury Committee published a letter (Letter) from Andrew Bailey, Chief Executive of the UK Financial Conduct Authority (FCA), dated August 17. The Letter contains figures on UK firms currently holding single-market “passports” under certain EU directives to provide services or establish branches elsewhere in the European Union. … Continue Reading