Brexit News

Brexit News

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Brexit Update: Ongoing Uncertainty

By Mark Callahan | Littler In late 2018, Prime Minister Theresa May, head of the United Kingdom’s executive branch, and the European Union agreed to a draft form of the agreement that sets out the terms of the UK’s withdrawal from the EU (colloquially known as the ”Withdrawal Agreement”). However, in recent months Parliament has voted against Mrs. May’s deal, whilst the EU has made it clear that it does not wish to renegotiate its terms. As such, the future of...
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Luxembourg Brexit Bill for the Financial Sector

By Ezechiel Havrenne |Jad Nader | Miryam Lassalle | Josée Weydert | Greet Wilkenhuysen On 31 January 2019, the Luxembourg finance minister introduced a bill (n° 7401) on measures to be taken in relation to the financial sector in the event the United Kingdom (the "UK") leaves the European Union (the "EU") without reaching an agreement on the final terms of its withdrawal (the "Bill"). The Bill is currently pending before the Finance and Budget Committee of the Luxembourg Parliament. In the event...
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British Foreign Secretary Jeremy Hunt spoke to POLITICO in a brief interview Thursday. Advice to Trump: Take advantage of alliances

By NAHAL TOOSI If British Foreign Secretary Jeremy Hunt could offer some advice to Donald Trump — advice he knew the U.S. president would actually take — he’d tell him to take advantage of international alliances, because “America has a lot of friends all over the world that share American values.” It’s advice that comes as Britain, on the verge of leaving the European Union, hopes to maintain the critical security and economic partnership it has long had with the United...
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Tensions heighten in Westminster as MPs break away from main parties

With less than a week to go until the House of Commons is set to vote again on amendments relating to the proposed Brexit deal, 11 MPs decided to split from their parties. In an announcement on Monday morning seven Labour MPs Luciana Berger, Chris Leslie, Angela Smith, Gavin Shuker, Mike Gapes, Ann Coffey and Chuka Umunna decided to leave their party over the leadership’s alleged failure on having a coherent Brexit policy and in addressing antisemitism within the party. A...
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Ensuring safe flying after Brexit

The EU is taking the steps needed to continue to ensure a high level of aviation safety in its airspace in the event the UK leaves the EU without a negotiated agreement. Member states' representatives meeting in the Council's Permanent Representatives Committee today approved an agreement with the European Parliament on a draft regulation aimed at ensuring the continued validity of certain aviation safety certificates. The regulation covers aviation safety certificates for certain aeronautical products, parts and appliances issued to...
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Brexit is blowing up British politics

Analysis by Luke McGee, CNN With Brexit day only weeks away, and still no deal in place, now might not seem the best time for British politicians to flip the table over. But this week, 11 Members of Parliament have done exactly that. On Monday, seven members of the opposition Labour Party announced that they were fed up of their leader Jeremy Corbyn, citing reasons ranging from rampant anti-Semitism to his lack of leadership on Brexit. They will now sit as...
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Progress made on Brexit “no-deal” contingency legislation

The College of Commissioners was today briefed by the Secretary-General Martin Selmayr and discussed the progress made on the Commission's contingency proposals for the undesirable but possible situation of a “no deal” Brexit. Michel Barnier, Chief Negotiator for Article 50 negotiations, updated the College on the latest state of play of the ongoing discussions with the UK government. To date, the Commission has tabled 19 legislative proposals, on which good progress has been made in the European Parliament and the...
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ESMA supervision to focus on data, Brexit and cybersecurity in 2019

Press Release February 19, 2019 The European Securities and Markets Authority (ESMA) has published today its 2019 Supervision Work Programme, which details the main areas of focus for the upcoming year for ESMA’s supervision of Trade Repositories (TRs), Credit Rating Agencies (CRAs), and the monitoring of third-country market infrastructures such as third-country central clearing counterparties (TC-CCPs) and third-country Central Securities Depositories (TC-CSDs). ESMA currently directly supervises eight TRs and 27 CRAs. It also carries responsibility forfour certified CRAs and 32...

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