Latest legal and regulatory news : 8th January

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Risk & Compliance

Brexit

On 24 December 2020, after rollercoaster negotiations, the UK and EU announced they had agreed a post-Brexit TCA. At 11pm on December 31 2020 the Brexit implementation period ended, and the UK exited the EU Single Market and the Customs Union. The TCA provides for zero tariffs and quotas. It represents a fundamental shift in the EU-UK relationship with substantially reduced market access but greater UK autonomy. Phillip Souta, head of UK Public Policy at Clifford Chance, examines what the TCA covers, what it doesn’t, and what happens next. See News Analysis: Comment—Relieved? UK and EU agree post-Brexit deal and Brexit Bulletin—examining the EU-UK Trade Cooperation Agreement.

As the Brexit transition period came to an end at 11pm on 31 December 2020, marking IP completion day in the UK, the government published over 300 items of new and updated Brexit transition guidance. While many of the updates are minor, including simple amendments to reflect the end of the transition period having occurred, a significant number of new documents and webpages were also published. Topics covered include: movement of goods and services, immigration, travel, transport, professional qualifications, legal services, litigation, companies, data, telecoms, IP, life sciences, healthcare, education, energy, environment, benefits, pensions, EU funding and sanctions. Also included is guidance for legal professionals and service providers, recognition of professional qualifications and cross-border legal cases. See: LNB News 01/01/2021 1, LNB News 01/01/2021 15 and LNB News 01/01/2021 17.

Law360, London: Britain’s trade deal with the EU marked the country’s final break from a regulatory framework that guided its laws for four decades, but it also left some key areas of unfinished legal realignment likely to dominate post-Brexit relations for years to come.