The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
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:
explains where to find information on the latest Brexit developments, in particular, those that impact financial institutions
explains how UK legislation will be impacted by Brexit and the approach being taken to ‘on-shoring’ financial services legislation
explains the preparations as regards financial services both in the event of a deal and no deal
explains Brexit related issues of general applicability to finance transactions, including passporting, security and data transfer
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)
explains the impact of certain key statutory instruments, and
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.
The general Brexit timeline sets out a timeline of key events, starting from the date that the UK triggered Article 50
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