Brexit Contingency Planning in Financial Services: Have All the Angles Been Considered?

The UK is due to leave the European Union on March 29, 2019, although it is proposed there is a transitional period for 18 months-2 years after that whereby the UK effectively remains within the EU for the purposes of financial institutions.

However, the EU mantra of “nothing is agreed until everything is agreed” and the fact that agreements made in phase one, including any political commitment to transitional arrangements, are not truly binding means the final deal is likely to hang in the balance for some time to come.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© A&O Shearman

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