This Practice Note provides a guide to key Lexis+® UK Financial Services materials on the post-Brexit regulatory regimes applying to UK and EU financial institutions. In addition, it also includes links to Brexit materials on the wider implications of Brexit on financial services in the UK, for example the temporary permissions regime, financial services contracts regime, temporary regimes for financial market infrastructures (FMIs) and temporary transitional powers for the UK regulators. We also include links to key UK post-Brexit financial services materials, including the Edinburgh reforms, as well as the key Brexit and post-Brexit content that relates to specific financial services topics. For a full list of Lexis+® UK Financial Services essentials notes, one minute guides and timelines, see Overviews: UK and EU financial services regulation—essentials—overview, UK and EU financial services regulation—one minute guides—overview and UK and EU financial services regulation—trackers and timelines—overview. Brexit and financial services: links to key UK Brexit and post-Brexit materials The links set out below provide further information on the wider impact of Brexit on

This Practice Note considers the impact of the UK’s withdrawal from the EU on the supervision of central counterparties (CCPs), trade repositories, and central securities depositories (CSDs) in the UK, including the temporary recognition regime and run-off regime for non-UK CCPs, the temporary registration regime and conversion regime for UK trade repositories, and the transitional regime for non-UK CSDs, as well as the temporary designation regime for settlement finality. The European Union (Withdrawal) Act 2018, as amended by the European Union (Withdrawal Agreement) Act 2020, makes provision for the ratification and implementation in domestic law of the Withdrawal Agreement between the UK and the EU. The Withdrawal Agreement sets out the arrangements for the UK’s withdrawal from the EU. It includes a transition period (or, to use the UK government’s phraseology, an ‘implementation period’) beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day). During the implementation period, the UK was treated, for most purposes, as if it were still an EU Member State with access to EU markets

This Practice Note considers how the Financial Conduct Authority (FCA), the Prudential Regulation authority (PRA) and the Bank of England (BoE) are using the temporary transitional powers (TTP) available to them to facilitate an orderly transition for financial services firms after the end of the implementation period following the UK’s withdrawal from the EU. What are temporary transitional powers (TTP)? The European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020, makes provision for the ratification and implementation in domestic law of the Withdrawal Agreement between the UK and the EU. The Withdrawal Agreement sets out the arrangements for the UK’s withdrawal from the EU. It includes a transition period (or, to use the UK government’s phraseology, an ‘implementation period’) beginning on 31 January 2020 and ending on 31 December 2020 (IP completion day). During the implementation period, the UK was treated, for most purposes, as if it were still an EU Member State with access to EU markets on current terms and, importantly, maintaining

This Practice Note considers the financial services contracts regime (FSCR), which came into force at the end of the implementation period following the UK’s withdrawal from the EU. The FSCR applies automatically to EEA passporting firms that have pre-existing contracts in the UK which need a permission to service, if those firms did not notify the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) that they wished to enter the temporary permissions regime (TPR), or if they do not secure full UK authorisation and leave the TPR. The regime allows those firms to continue to service UK contracts entered into before the end of the implementation period or before exiting the TPR for a limited period, provided that they meet the conditions of the FSCR. The European Union (Withdrawal) Act 2018, as amended by the European Union (Withdrawal Agreement) Act 2020, makes provision for the ratification and implementation in domestic law of the Withdrawal Agreement between the UK and the EU. The Withdrawal Agreement sets out the arrangements

This Practice Note considers the Financial Conduct Authority (FCA) and Prudential Regulation authority (PRA)/Bank of England (BoE) temporary permissions regime (TPR) and temporary marketing permissions regime (TMPR), introduced at the end of the implementation period following the UK’s withdrawal from the EU. The TPR has now ended (31 December 2023). By contrast, the TMPR for EEA UCITS remains in force and has been extended to 31 December 2026 to support transition to the Overseas Funds Regime (OFR). The regimes enabled EEA passporting firms and funds to continue to operate in the UK for a limited period after the implementation period while seeking full UK authorisation or recognition. The European Union (Withdrawal) Act 2018 (EU(W)A 2018), as amended by the European Union (Withdrawal Agreement) Act 2020 (EU(WA)A 2020), made provision for the ratification and implementation in domestic law of the Withdrawal Agreement between the UK and the EU. The Withdrawal Agreement set out the arrangements for the UK’s withdrawal from the EU. It included a transition period (or, to use the UK government’s

PI & Clinical Negligence analysis: The UK exited the EU on 31 January 2020. In this article Sarah Prager KC examines the consequences of Brexit for personal injury claims, and asks what the position is likely to be in the future as EU and UK authorities diverge. Written by Sarah Prager KC, barrister at Deka Chambers, a barrister specialising in cross border claims and in particular personal injury claims arising in an international context.

Public Law analysis: In this revisited analysis, David Hansom, partner at Clyde & Co LLP, examines the World Trade Organisation (WTO) procurement rules and the possible impact on the UK’s public procurement regime in light of the end of the Brexit transition/implementation period (referred to in UK law as IP completion day).

11 pm (GMT) on 31 December 2020 marked the end of the transition period put in place to enable the UK to transition away from the EU’s laws and institutions. At this point in time (referred to in this document as ‘IP completion day’) there was an immediate and significant change in the UK’s legal regime. This Practice Note explains the implications of this change in relation to immigration law and practice. Background European Economic Area (EEA)/Swiss citizens (termed ‘EEA citizens’ for these purposes) and their family members previously benefited from EU free movement rights, which were primarily implemented in the UK by the Immigration (European Economic Area) Regulations 2016 (the EEA Regs 2016), SI 2016/1052. In line with the Withdrawal Agreement reached between the EU and the UK, and the equivalent agreements reached with Norway, Iceland and Liechtenstein and Switzerland, these Regulations continued to apply in full throughout the transition period. Mechanism for the end of free movement At the end of the transition period, the EEA Regs

This Checklist outlines some key points to check in relation to facility and security documentation following the end of the Brexit implementation period. ARCHIVED: This Checklist has been archived and is not maintained. At the end of the implementation period, EU law was brought into UK law as retained EU law by operation of the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020, with, in most cases, minor changes only. This is explained in Practice Note: Retained EU law and assimilated law. This Checklist is intended to be read in conjunction with Practice Notes: Brexit—documentary implications for facility agreements [Archived] and Brexit—impact on finance transactions [Archived]. This Checklist focuses on documentary points, and does not cover all potential matters to consider in relation to finance transactions following the end of the implementation period. See Practice Notes: What does IP completion day mean for lending lawyers? [Archived] and Brexit—impact on finance transactions [Archived] for a more comprehensive look at issues to consider. Issue Question Comments Helpful links Loss

ARCHIVED: This archived Practice Note considered the implications for dispute resolution practitioners in Scotland of the UK having left the EU. This Practice Note considers the position in relation to proceedings involving civil and commercial matters after the end of the Brexit Implementation Period on 31 December 2020. For the most part, the implications for Scotland are the same as for the rest of the UK and this Practice Note is to be read in conjunction with the detailed England and Wales guidance, see Practice Note: Brexit post implementation period—considerations for dispute resolution practitioners [Archived]. What follows is an overview of the application of EU law and international Conventions in the UK and a summary of the position in Scotland regarding applicable law, jurisdiction, cross-border process and recognition and enforcement of judgments. For guidance on key aspects of Scottish civil litigation, see: Scottish DR: prescription and limitation—overview, Scottish DR: case management and evidence—overview, Scottish DR: civil appeals and judicial review—overview, Scottish DR: enforcement—overview, and Scottish DR:

These Brexit highlights bring you a summary of the latest Brexit news and legislation updates from across a range of LexisNexis® practice areas.

These Brexit highlights bring you a summary of the latest Brexit news and legislation updates from across a range of LexisNexis® practice areas.