The impact of Brexit on financial services regulation has been significant. For more information, see Practice Note: Brexit—impact on financial services.
In the UK, the Financial Services and Markets Act 2023 (FSMA 2023) was introduced to the House of Commons and given its first reading on 20 July 2022 and received royal assent on 29 June 2023. Practice Note: The Financial Services and Markets Act 2023—essentials sets out the background to FSMA 2023, provides an overview of FSMA 2023 and considers its key reforms. It also considers how FSMA 2023 interacts with the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023).
On 9 December 2022, the chancellor of the exchequer, Jeremy Hunt, announced a package of proposed measures for UK financial services, collectively termed the Edinburgh Reforms. Practice Note: Edinburgh Reforms tracker [Archived] outlines the key developments relating to each of the measures comprised in the Edinburgh Reforms and provides links to relevant documents.
From 1 January 2024. Retained EU Law (REUL) introduced by the European Union (Withdrawal)...
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Brexit—impact on financial servicesThis Practice Note provides information relating to the impact of Brexit on financial services, including the loss of passporting rights, and how UK and EU firms should proceed following the UK becoming a third country for the purposes of EU financial services law
Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a
If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit
Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application
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