Latest legal and regulatory news update - 25 October 2019

Latest legal and regulatory news update - 25 October 2019

Our second October update includes the Brexit transition period, a risk & compliance forecast on economic crime and slavery and human trafficking, as well as the latest on corporate regulations and reporting. 

In this issue:

  • Brexit
  • Risk & Compliance
  • Commercial
  • Corporate
  • Information Law & TMT
  • Employment


Brexit transition period

Graeme Cowie, Senior Library Clerk (Constitutional Law) at the House of Commons Library, explains how the European Union (Withdrawal Agreement) Bill (EU(WA)B) proposes to change domestic law to ensure that the transition period is honoured by the UK. It also explains what role Parliament would be given if the UK, for whatever reason, wished to extend that transition period beyond 2020. See News Analysis: Withdrawal Agreement Bill: Implementing the transition period.

TheCityUK’s CEO, Miles Celic, has called on the government to ensure a transition period and avoid a no-deal Brexit. Celic said the ‘central issue for our industry remains avoiding a no-deal Brexit. The interests of customers and communities across the UK and the EU will be best served by the delivery of a transition period and the rapid negotiation of a close future economic relationship.’ See: LNB News 21/10/2019 27.

Proxy Advisors Regulations and the Official Listing Regulations

The Cross-Border Distribution of Funds, Proxy Advisors, Prospectus and Gibraltar (Amendment) (EU Exit) Regulations 2019, SI 2019/1370 (Amending Regulations) were made on 22 October 2019 and come into force partly immediately before exit day and fully on exit day. This analysis considers the aspects of the Amending Regulations of most interest to corporate lawyers. See News Analysis: Brexit-related amendments to the Proxy Advisors Regulations and the Official Listing Regulations.

Immigration system

Details on the government’s post-Brexit immigration system have been published by the House of Commons Library. The report examines the government's current proposals for the future immigration system, which is intended to be implemented from 1 January 2021—such as ending free movement of EEA citizens into the UK, visa arrangements and a proposed

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About the author:
Allison is a former partner of Shoosmiths, with extensive experience of legal management and practice compliance.