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The Financial Markets Law Committee (FMLC) has published an addendum
to its 2017 report entitled ‘Issues of legal uncertainty arising in the context of the withdrawal of the UK from the EU—the provision and application of third country regimes in EU legislation’ (the 2017 report). The addendum sets
out key updates to the 2017 report. The FMLC concludes that the uncertainties highlighted in the 2017 report continue to paint a daunting picture for UK market participants who have been, and would like to continue, providing services into the EU.
The risk of a ‘cliff edge’ continues to present a substantial danger of market disruption and of litigation in relation to legacy business.
The UK government has notified the Dutch Ministry of Foreign Affairs that its accession
to the Hague Convention of 30 June 2005 on Choice of Court Agreements has once again been delayed by the Brexit extension. The government notifies the ministry that the UK and Gibraltar’s accession shall be suspended until 1 February 2020. The
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