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Category Archives: Brexit

Updates on Britain’s exit from the European Union

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What Rules Will Apply to Jurisdiction and the Enforcement of Judgments After Brexit? Part Four

The EU-UK Trade and Cooperation Agreement has now been agreed. So what rules will apply to jurisdiction and foreign judgments in the UK from 1 January 2021? By Oliver Browne and Tom Watret Introduction It has been a long time in the making, but the UK and EU have finally reached an agreement (the EU-UK … Continue Reading

IP in the UK After Brexit: What Does It Mean for UK Business and Trading With the EU?

Owners of registered IP rights and pending IP applications in the EU‎ should carefully consider the complexities of the incoming regime. By Deborah J. Kirk and Terese Saplys On 28 September 2020, the UK government made the Intellectual Property (Amendment etc.) (EU Exit) Regulations 2020 (IP Regulations 2020), which amend the intellectual property (IP) regime … Continue Reading

What Rules Will Apply to Jurisdiction and the Enforcement of Judgments After Brexit? Part Three

English law, courts and arbitral tribunals may become more relevant and popular after Brexit, not less. By Oliver Browne, Sophie J. Lamb QC, Sanjev D. Warna-kula-suriya, and Tom Watret Introduction English law, courts, and arbitral tribunals may become more relevant and popular after Brexit, not less, and parties should continue to feel confident about including … Continue Reading

HM Treasury Consults on Post-EU Financial Services Regulatory Framework

The UK government signals a diversion from the onshored regime towards a more flexible financial services regulatory framework. By Rob Moulton, Anne Mainwaring, and Anna Lewis-Martinez HM Treasury has published a consultation paper marking the start of Phase II of its financial services review, which will focus on the broader regulatory framework for financial services … Continue Reading

What Rules Will Apply to Jurisdiction and the Enforcement of Judgments After Brexit? Part Two

Four recent developments highlight the benefit of arbitration clauses amidst uncertainty about choice of court clauses. By Oliver Browne and Tom Watret Introduction With the end of the Brexit transition period on 31 December 2020 fast approaching, four new important and interrelated developments have highlighted uncertainty about which courts will have jurisdiction in cross-border disputes … Continue Reading

EU Platform-to-Business Regulation Enters Into Force

The regulation is part of the EU Digital Single Market strategy to harmonise digital rights. By Deborah J. Kirk, Elva Cullen, and Grace E. Erskine From 12 July 2020, the EU’s Platform-to-Business Regulation 2019/1150 (P2B Regulation) promoting fairness and transparency for business users of online intermediation services applies. The P2B Regulation, which entered into force … Continue Reading

What Rules Will Apply to Jurisdiction and the Enforcement of Judgments After Brexit?

The UK has taken steps to accede to the Lugano Convention 2007, as maintaining the status quo under the Brussels Recast Regulation 1215/2012 will no longer be an option once the transition period expires. By Oliver Browne, Sebastian Seelmann-Eggebert, and Tom Watret The UK has recently requested to join the Lugano Convention 2007, which is … Continue Reading

Competition Law in the Energy Sector: What to Look Out For in 2020

Ofgem’s recently announced goals and developments and changes to the post-Brexit state aid regime will have important implications for market players. By John D Colahan, Stephanie Adams, and Anuj Ghai 2020 is set to be a an important year for competition law-related enforcement in the UK energy sector not least as it waits for the … Continue Reading

What Does Brexit Mean for the Copyright Directive in the UK?

Companies may face a challenging regulatory environment following the EU-wide implementation of the Copyright Directive by 7 June 2021. By Deborah J. Kirk and Rachael Astin On 21 January 2020, the UK government confirmed that the UK will not be required to implement the Directive on Copyright in the Digital Single Market 2019/790 (Copyright Directive) … Continue Reading

Trends in Outsourcing Regulation and Supervision in Financial Services

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services Authors: Andrew Moyle, Nicola Higgs, Christian McDermott, and Kirsty Watkins. The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7 billion in 2018, causing regulators to focus more than ever on the associated … Continue Reading

PSD2 & Brexit: EU Card Issuers Must Apply SCA to UK Website Purchases Post-Brexit

European Commission confirms SCA measures should apply to EU consumers purchasing from UK websites in the event of a no-deal Brexit. By Christian F. McDermott, Jagveen S. Tyndall, and Amy Smyth Complex payment processing chains comprise multiple entities operating behind the scenes to support everyday transactions. The strong customer authentication (SCA) requirements introduced by the … Continue Reading

Italy Updates Regulatory Instructions for Brexit Law Decree

The notice details the requirements applicable to both UK investment firms operating in Italy and Italian investment firms operating in the UK. By Antonio Coletti and Isabella Porchia On 1 August 2019, the Italian Securities and Exchange Commission (CONSOB) issued an update of Notice No. 7 of 26 March 2019 (the Notice) detailing the requirements … Continue Reading

Brexit Progress Report: 1 of 10 Key Regulatory Focus Areas for UK/European Wholesale Markets in 2019

By David Berman, Carl Fernandes  Nicola Higgs, Rob Moulton and Charlotte Collins In our January publication, we highlighted what we were seeing as the top regulatory focus areas for our clients during the year ahead, focusing on wholesale market structures and conduct risk. In a series of 10 blog posts, we will take a closer look at … Continue Reading

MHRA Releases No-Deal Brexit Guidance for Life Sciences Companies

The guidance provides helpful clarity on key regulatory changes impacting life sciences companies in the event of a no-deal Brexit. By Frances Stocks Allen, Oliver Mobasser, Héctor Armengod, Gail E. Crawford, Christoph W.G. Engeler, Robbie McLaren, and Henrietta J. Ditzen The UK Medicines and Healthcare products Regulatory Agency (MHRA) has published a significant volume of … Continue Reading

Italian Investor Compensation Scheme Under the Brexit Law Decree

CONSOB notice 8/2019 details the requirements under the Italian investor compensation scheme applicable to UK banks and investment firms operating in Italy. By Antonio Coletti and Isabella Porchia On 29 March 2019, the Italian Securities Commission (CONSOB) issued a notice detailing the terms and requirements applicable to UK banks and investment firms operating in Italy … Continue Reading

Bank of Italy Issues Instructions for Brexit Law Decree

The instructions clarify the requirements applicable to banking and financial intermediaries under the Brexit Law Decree. By Antonio Coletti and Isabella Porchia On 28 March 2019, the Italian central bank (Bank of Italy) published two notices detailing the requirements for Italian banks and financial intermediaries operating in the UK, and for UK banks and financial … Continue Reading

Italy Issues Regulatory Instructions for Brexit Law Decree

The notice details the requirements applicable to UK investment firms operating in Italy, and Italian investment firms operating in the UK. By Antonio Coletti and Isabella Porchia On 26 March 2019, the Italian Securities Commission (CONSOB) issued a notice detailing the requirements applicable to UK investment firms operating in Italy and Italian investment firms operating … Continue Reading

Italy’s Brexit Law Decree Comes Into Force

The law decree lays down a temporary regime for regulated firms in a no-deal Brexit scenario. By Antonio Coletti and Isabella Porchia On 20 March 2019, the Italian Council of Ministers approved a law decree laying down urgent measures to ensure financial stability and market integrity in the event of a no-deal Brexit. In particular, … Continue Reading

UK and Italian Investment Services Firms Urged to Update Clients on Brexit

The Italian Securities Commission asks banks and investment firms in Italy and the UK to inform customers of Brexit consequences promptly. By Isabella Porchia On 12 March 2019, the Italian Securities Commission (CONSOB) issued a warning notice to UK and Italian banks and investment firms providing investment services and activities in Italy and the UK, … Continue Reading

What EBA’s Outsourcing Guidelines Mean for Financial Institutions

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication … Continue Reading

UK Financial Institutions Urged to Update Italian Clients on Brexit

The Bank of Italy has called on UK financial institutions to inform their Italian clients of Brexit consequences promptly. By Isabella Porchia On February 19, 2019, the Bank of Italy issued a notice to UK financial institutions operating in Italy requesting they promptly inform their Italian clients of Brexit consequences. The notice applies to banks, … Continue Reading

Effect of a “No-Deal” Brexit on IP in the UK

The UK government’s technical notices provide some certainty for holders of cross-border copyrights, trade marks, patents and other IP rights. By Deborah Kirk, Terese Saplys, and Grace Erskine On 24 September 2018, the UK government published a series of technical notices explaining how a “no-deal” Brexit would impact intellectual property rights in the United Kingdom, … Continue Reading

European Banking Authority’s Draft Guidelines on Outsourcing: Discussion of Key Themes

The EBA’s draft guidelines on outsourcing will impact cloud outsourcing and institutions’ deployment of FinTech. By Fiona Maclean, Charlotte Collins, and Terese Saplys On 4 September 2018, a wide audience of interested individuals gathered at Canary Wharf for a public hearing (Public Consultation) to listen to what the European Banking Authority (EBA) had to say in relation … Continue Reading
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