Brexit—impact on finance transactions
Brexit—impact on finance transactions

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Brexit—impact on finance transactions
  • Where can I find information on the most recent Brexit developments?
  • Brexit planning and impact—financial services
  • Impact of No deal Brexit on finance transactions—News Analysis
  • General issues: passporting
  • General issues—impact of Brexit on finance documentation
  • General issues—impact of Brexit on security, guarantees and insolvency proceedings
  • General issues—impact of Brexit on tax
  • General issues—impact of Brexit on capital adequacy
  • General issues— impact of Brexit on benchmarks and the Benchmarks Regulation
  • more

STOP PRESS: The EU has agreed an extension to the Article 50 Withdrawal Period until 31 January 2020. For more information, see: Brexit bulletin—Early Parliamentary General Election Bill fast-tracked as European Council adopts decision to extend the Brexit deadline—LNB News 29/10/2019 98 and the Brexit timeline.

This Practice Note:

  1. explains where to find information on the latest Brexit developments, in particular, those that impact financial institutions

  2. explains how UK legislation will be impacted by Brexit and the approach being taken to ‘on-shoring’ financial services legislation

  3. explains the preparations as regards financial services both in the event of a deal and no deal

  4. explains Brexit related issues of general applicability to finance transactions, including passporting, security and data transfer

  5. sets out key issues for various specific types of financing (including project finance, real estate, aviation, debt capital markets (DCM), securitisation, derivatives and transactions involving individuals)

  6. explains the impact of certain key statutory instruments, and

  7. provides a tracker of key statutory instruments that could impact finance transactions

Information on the impact of Brexit on documentary terms in facilities agreements can be found in Practice Note: Brexit—documentary implications for facility agreements.

Where can I find information on the most recent Brexit developments?

The general Brexit timeline sets out a timeline of key events, starting from the date that the UK triggered Article 50