FMLC examines the effects of hard Brexit on legacy financial contracts

FMLC examines the effects of hard Brexit on legacy financial contracts
The Financial Markets Law Committee (FMLC) has published a report on UK withdrawal from the EU, Issues of legal uncertainty arising in the context of the robustness of financial contracts, which considers the possible consequences of a hard Brexit on legacy financial contracts—ie contracts in existence on exit day. The report takes an in-depth look at the question of the continuity of legacy financial contracts and highlights the legal uncertainty which will arise if there is no clarity as to the future of the UK-EU relationship post-Brexit

. It also suggests a number of ways this uncertainty could be reduced or avoided.

The report divides the p

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