By entering into a Trade and Cooperation Agreement, the EU and the United Kingdom averted a “no deal” Brexit at the last second and established a provisional legal foundation until 30 June 2021 for data transfers to the United Kingdom (for more background, please see: Data protection implications since January 1, 2021). However, no decision has been reached as yet on whether and how data transfers into the United Kingdom would be possible after the transitional period.
On 19 February 2021, the European Commission published...
On February 19, the Commission launched the process towards the adoption of two adequacy decisions for transfers of personal data to the United Kingdom, one under the General Data Protection Regulation and the other for the Law Enforcement Directive. The publication of the draft decisions is the beginning of a process towards their adoption. This involves obtaining an opinion from the European Data Protection Board (EDPB) and the green light from a committee composed of representatives of the EU Member States. Once...
There is still much uncertainty about the financial regulatory consequences of Brexit for UK entities operating in the Netherlands. In this News Update, we give an overview of the current situation, focusing on market access. We discuss the cancellation of European passports, the exceptions to this, equivalence decisions and cooperation between supervisory authorities.
If you wish to stay informed, you can subscribe to the News Update Financial Regulatory.
The EU-UK Trade and Cooperation Agreement covers financial services in the same way as they are generally covered in...
The following note highlights certain barriers to free trade flows between the UK and the EU that have arisen in the post-Brexit era, with particular reference to rules of origin and origin procedures. It assesses the consequences these new rules will have in determining market power, influencing supply chain practices, and the application of UK and EU competition law in the future.
The Trade and Cooperation Agreement
The UK's continued membership of the European Union and Customs Union during the so-called...
On 24 December 2020, the EU and the UK finalised a Trade and Co-operation Agreement (the “TCA”) setting out the terms of their future relationship.
This came just seven days before the end of the transition period for the United Kingdom’s exit from the European Union on 31 December 2020, following which:
the UK ceased to be treated as a member state of the EU for all purposes; and
EU law ceased to apply in the UK.
Partner – Head...
Table of contents: 1. Introduction – 2. End of free movement of workers and new immigration system in the UK – 3. End of free movement of goods – 4. New cross-border trade rules. Major impacts on contracts, corporate and M&A transactions – 5. Major impacts on financial services – 6. Major impacts on IP, information technology and data protection – 7. Major impact on tax matters. Main Italian tax consequences – 8. New regulation on aviation – 9....
Validity of insurance contracts concluded by UK insurance undertakings in a post-Brexit context – Clarifications by the Luxembourg legislator
The Luxembourg legislator recently amended the law of 27 July 1997 on insurance contracts, as amended (the “1997 Law”) in adopting the law of 19 December 2020 on the budget of State revenue and expenditure for the financial year 2021. In particular, this amendment clarifies the post-Brexit validity of insurance contracts concluded by UK insurance undertakings prior to the end of...
Brexit has officially arrived and brings with it changes to a number of important areas concerning cross-border litigation between the United Kingdom and European Union.
This Holland & Knight alert gives an outline of the possible implications of Brexit in this field, primarily from an English law perspective and with a focus on commercial contractual matters.
It is more important than ever that the points and issues discussed below are considered carefully at the negotiating and drafting stages...
After the political and constitutional upheaval of the last four years that has been Brexit, a trade deal—the EU-UK Trade and Cooperation Agreement—was finally reached between the United Kingdom (UK) and the European Union (EU) on December 24, 2020, just days before the deadline when the UK was set to crash out of all EU treaties.
Amongst the rules about how much fish a French fisherman can catch off the coast of Scotland and whether a vaccine approved in Denmark...
With the end of the transition period on 31 December 2020, the formal and legal process of Brexit has completed. However, this is just the beginning of a new trading relationship and opportunities for the EU and UK and for international business operating across the region. As Osborne Clarke assess the impact of the deal negotiated between the EU and UK, you may have questions that are still unanswered around the impact of the deal and what this means...