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Welcome to this month’s highlights from the Lexis®PSL Banking & Finance team which cover the key news updates from May 2019.
The European Union Committee has released a report called Brexit—road, rail and maritime transport. In the report, the committee examines the implications of Brexit for UK-EU surface transport, particularly what will be required for road, rail and maritime connectivity under a new UK-EU trading relationship. It also takes into account ‘no deal’ preparations on both sides.
The Department for Business, Energy & Industrial Strategy (BEIS) has published new guidance for stakeholders on how companies can ensure they comply with accounting and reporting requirements, and how auditing professionals should prepare for the possibility of the UK leaving the EU without a deal in place.
The Financial Conduct Authority (FCA) has confirmed the deadline for notifications for the temporary permissions regime (TPR) will be extended to the end of 30 October 2019. The deadline for applying to the trade repository and credit ratings agencies has also been extended to the same date.
The Commons European Statutory Instruments Committee (ESIC) and the Lords Secondary Legislation Scrutiny Committee (SLSC) are responsible for the sifting process under the European Union (Withdrawal) Act 2018 (EU(W)A 2018). These committees scrutinise proposed negative Brexit SIs and make recommendations on the appropriate parliamentary procedure before the instruments are laid in Parliament. This bulletin outlines the latest updates and recommendations, collated on 24 2019.
In the International Swaps
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