Corporate weekly highlights—7 February 2019

Corporate weekly highlights—7 February 2019

This week’s edition of Corporate highlights includes the latest Brexit developments plus updated Q&A guidance from the ESMA on Prospectuses and the Transparency Directive in the event of no-deal Brexit.

In this issue:

Brexit

European Union (Withdrawal) Act 2018 (Consequential Modifications and Repeals and Revocations) (EU Exit) Regulations 2019

SI 2019/Draft: These draft Regulations are laid in exercise of legislative powers under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) in preparation for Brexit. These draft Regulations propose to amend and revoke UK primary and subordinate legislation in relation to the 2018 Act in order to ensure that the UK statute book accommodates ‘retained EU law’, a new body of domestic law introduced by the 2018 Act, coherently and effectively after the UK’s withdrawal from the EU. They come into force partly on the day after the day on which these draft Regulations will be made and fully on exit day.

For further information, see: LNB News 31/01/2019 76.

Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

SI 2019/Draft: These draft Regulations are laid in exercise of legislative powers under the EU(W)A 2018 in preparation for Brexit. These draft Regulations propose to amend and revoke provisions of UK primary and subordinate legislation in relation to financial services and markets in order to address deficiencies arising from the withdrawal of the UK from the EU, ensuring that the UK’s financial services legislative framework continues to operate effectively in a scenario where the UK leaves the EU without an agreement. Pursuant to these provisions, certain amendments are proposed to be made to the Financial Services

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