Brexit risk management guide [Archived]
Produced in partnership with Chris Bryant of Bryan Cave Leighton Paisner
Brexit risk management guide [Archived]

The following Risk & Compliance practice note produced in partnership with Chris Bryant of Bryan Cave Leighton Paisner provides comprehensive and up to date legal information covering:

  • Brexit risk management guide [Archived]
  • Why you need to manage this risk
  • What are the risks?
  • Transposition of EU law into domestic law
  • Top five priorities
  • 1. Risk exposure in contracts
  • Risk exposure in contracts—mini action list
  • 2. Supply chain disruption
  • Changes to customs and excise procedures
  • Impact of tariffs
  • More...

ARCHIVED: This Practice Note has been archived and is not maintained.

Why you need to manage this risk

This risk management guide seeks to help you identify the key legal risks and sets out some practical guidance on how these may be addressed, notwithstanding the current environment of uncertainty. This guide is directed at cross-sectoral risks affecting most businesses, rather than focusing on issues relevant only to specific sectors, eg financial services passporting.

The UK has left the EU on the basis of the Withdrawal Agreement as implemented in the European Union (Withdrawal) Act 2018 (EU(W)A 2018) and the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020). However, we are now in an implementation period running until 31 December 2020 during which time the UK will generally continue to abide by EU rules.

On 3 February 2020, the UK and EU set out their opening negotiating positions for a post-Brexit UK-EU relationship. While the Political Declaration, appended to the Withdrawal Agreement, sets out the framework for the future relationship with the EU, it is not legally binding, meaning that either side can choose to depart from parts or all of the text. In a situation where no agreement is reached, the UK-EU trade will be governed by WTO rules.

What are the risks?

Review the Brexit discourse and you will be bombarded with a catalogue of risks that may

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