Preparing for Brexit—key considerations and action planning—law firms [Archived]

The following Practice Compliance practice note provides comprehensive and up to date legal information covering:

  • Preparing for Brexit—key considerations and action planning—law firms [Archived]
  • What are the risks?
  • Transposition of EU law into domestic law
  • Key considerations
  • Registered European Lawyers/Exempt European Lawyers
  • RELs/EELs—mini action plan
  • Data Protection
  • Data protection—mini action plan
  • Financial crime
  • Financial sanctions
  • More...

Preparing for Brexit—key considerations and action planning—law firms [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note seeks to help you identify the key aspects of Brexit that should be on law firms’ radars and sets out some practical guidance on how to address or plan for them. The key to managing the challenges Brexit presents is proper preparation.

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 be faced by commercial organisations, including law

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