This Practice Note is archived and no longer maintained. During the implementation period/transitional period, the key EU regulations effectively remained in place for R&I lawyers (see Practice Note: Brexit—impact of the implementation period for R&I lawyers), but from IP completion day, the picture changes significantly as set out below. How does Brexit impact R&I? From IP completion day, given no deal on insolvency matters (despite the trade deal), the main impact for R&I practitioners is the loss of the main operative parts of the Regulation (EU) 2015/848 (OJ L141/19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] relating to automatic recognition (see Practice Note: Brexit—impact on Recast Regulation on Insolvency and News Analysis Brexit—a deal that leaves recognition of UK insolvency procedures uncertain and Impact of the EU-UK Trade and Cooperation Agreement on cross border insolvency) following the amendments made by Brexit SI: Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146. Although the jurisdictional tests are retained, meaning many insolvency/restructuring procedures can still be commenced in England and Wales post IP completion