Brexit: Reporting Developments Affecting the Business and Legal Community

 

All change (again!) A General Election is Called in the UK

We could be on the verge of some meaningful change that would mean the UK finally starts to move forward again. On Tuesday, after a roller-coaster of a day when rumour followed rumour, the House of Commons finally voted for a general election to be held on Thursday, 12 December. First it was on, then it was off, then the leader of the Labour Party Jeremy Corbyn decided to support a general election, then there were attempted amendments to the bill and, in the end, Prime Minister Boris Johnson got what he originally asked for on Monday.

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A Brexit Deal Passes in Parliament, and is then Derailed!

In our post yesterday, we thought that new Withdrawal Bill giving effect to the new deal reached with the EU could pass its second reading, but it ‎might fail to get approval for its expedited timetable through Parliament. That turned out to be ‎exactly what happened. However, Prime Minister Johnson had threatened to pull the bill entirely ‎if he lost the timetable motion, but he then decided to ‘pause’ the legislation pending the EU27’s ‎response to the extension request that was made last Saturday.

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New Brexit Agreement Reached in Brussels

Just over a week ago, we posted about a potential new deal between the UK and the EU27 that could potentially deliver on Prime Minister Boris Johnson’s promise to leave the EU by 31 October 2019.

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FCA and ESMA Publish Updates on Brexit Readiness

On 7 October, the UK Financial Conduct Authority published a Brexit version of its monthly Market Watch newsletter. The newsletter provided a summary of recent developments and publications in connection with the preparedness of the UK Financial Services Sector for the UK’s exit from the EU.

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