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Brexit

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In June 2016 the United Kingdom (UK) voted in a referendum in favour of withdrawal from the European Union ("Brexit"). 

Art. 50 TEU stipulates special provisions for the withdrawal of a Member State. Thus, a Member State which decides to leave must inform the European Council of its intention. Only then will the negotiations on a withdrawal agreement commence. With effect from the date on which the withdrawal agreement comes into effect or two years after invoking Article 50 the treaties cease to apply, unless the European Council unanimously resolves by mutual agreement with the Member State concerned to extend this deadline.

On 29 March 2017 Theresa May submitted the withdrawal notification. The negotiations between the EU and the UK concerning the withdrawal officially started on 19 June 2017 and must be concluded within a two-year period, thus by the end of March 2019.

On 14 November 2018 the United Kingdom and the EU agreed a draft withdrawal agreement. When the withdrawal agreement comes into effect United Kingdom will leave the EU with effect from midnight on 29 March 2019. During a transition phase until the end of 2020 the United Kingdom will continue to have access to the internal market and will participate in the customs union.

However, first of all the withdrawal agreement has to be approved by the Parliament of the United Kingdom. Since the premature new elections in June 2017 Theresa May has only had a very small majority in Parliament.

On 15 January 2019, the United Kingdom Parliament rejected the draft withdrawal agreement. We will, of course, continue to keep you informed of the legal implications of the upcoming events.

leg­al Im­plic­a­tions

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01 June 2021
Some leaks can­'t be fixed
“Con­fid­en­tial in­form­a­tion is like an ice cube... give it to the party who has no re­fri­ger­at­or or will not agree to keep it in one, and by the time of the tri­al you have just a pool of wa­ter.” This...
30 December 2020
Stock sav­ings plan and Brexit: Brit­ish stock and some oth­er fin­an­cial in­stru­ments...
As a res­ult of Brexit, both stock or UCITS by a Brit­ish is­suer are dis­qual­i­fied and some EU-based UCITS funds’ un­der­ly­ing Brit­ish fin­an­cial in­stru­ments may also be so. Such a dis­qual­i­fic­a­tion may lead...
18 September 2020
How will in­valid­ity of the Pri­vacy Shield and new rules for Stand­ard Con­trac­tu­al...
In a re­cent rul­ing, the EU Court of Justice struck down the EU-US Pri­vacy Shield and, though it ruled that stand­ard con­trac­tu­al clauses re­main val­id for trans­fers of per­son­al data out­side the EEA, in­ter­preted...
29 October 2020
The im­plic­a­tions of Brexit for the In­sur­ance sec­tor
The chances of a no-deal Brexit are be­com­ing more likely every day. This could have a huge im­pact on the in­sur­ance sec­tor, due to the level of reg­u­la­tion and in­ter­con­nec­tion between the UK and the EU...
27 July 2020
Pro­tec­tion for Designs in UK post Brexit
Since 2002, UK busi­nesses have been able to pro­tect their designs by vir­tue of both UK and EU design rights, con­fer­ring par­al­lel but slightly dif­fer­ing forms of pro­tec­tion. This art­icle con­siders the...
04 March 2020
SCIP Data­base: a step for­ward for the cir­cu­lar eco­nomy
From 5 Janu­ary 2021, busi­nesses that sup­ply art­icles or com­plex ob­jects (products) con­tain­ing cer­tain haz­ard­ous sub­stances will have to sub­mit in­form­a­tion to a new data­base es­tab­lished by the European...
28 February 2020
UK/EU fin­an­cial ser­vices after Brexit -cross bor­der reg­u­la­tion after the...
On 25 Feb­ru­ary, the Coun­cil of the EU pub­lished the fi­nal ver­sion of its ne­go­ti­at­ing man­date and, two days later, the UK gov­ern­ment set out its ap­proach to our fu­ture re­la­tion­ship with the EU. Ne­go­ti­ations...
15 November 2019
Brexit and data pro­tec­tion: what to do next (when you don’t know what’s...
Whilst the threat of a no-deal Brexit has been aver­ted for now, the fu­ture is by no means cer­tain. We have high­lighted some of the key is­sues for UK-based or­gan­isa­tions, and the EEA or­gan­isa­tions that...
07 November 2019
CMS Con­sumer Products Con­fer­ence 2019
The con­sumer product sec­tor is fa­cing an in­creas­ing num­ber of dis­rupt­ing trans­form­a­tions, due to chan­ging con­sumer demo­graph­ics, shifts in pur­chas­ing habits, fast-mov­ing tech­no­lo­gies and emer­ging chan­nels...
27 September 2019
Fin­an­cial as­sist­ance to Mem­ber States and European un­der­tak­ings in the...
Brexit without an agree­ment would have im­port­ant con­sequences for the eco­nomy, the la­bour mar­ket and pub­lic fin­ances in the Mem­ber States that have par­tic­u­larly close trade and fin­an­cial re­la­tions with...
12 September 2019
UK food and cos­met­ic pro­du­cers to the EU to face new reg­u­la­tions after...
As Brexit draws near­er and with the like­li­hood of an un­reg­u­lated exit still not off the table, EU-27 com­pan­ies im­port­ing or selling food or cos­met­ics from Great Bri­tain face li­ab­il­ity risks if they con­tin­ue...
21 August 2019
CMS - Fo­cus­ing on Funds – Lux­em­bourg Brexit
This Fo­cus­ing on Funds is an alert with re­spect to the Brexit re­mind­ers is­sued by the Lux­em­bourg reg­u­lat­or ("CSSF") to all firms cur­rently au­thor­ised un­der CRD, Mi­FID II, PSD 2 or EMD in the United King­dom...