Brexit News, Chapter News, News

How to develop a “financial Eurosystem” post-Brexit

How to develop a “financial Eurosystem” post-Brexit | Eurofi High Level Seminar 2019 | Bucharest, 5 April 2019 Closing remarks by François Villeroy de Galhau, Governor of the Banque de France Ladies and Gentlemen, It is a pleasure to be in Bucharest today to conclude this Eurofi High Level Seminar. I am grateful to D. Wright and D. Cahen for offering me the opportunity to give this keynote speech... but perhaps less grateful about the theme they asked me to address: “Opportunities...

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Brexit News, Member News

Vulcan Insight Analysis of the latest EU Developments: 1 – 5 April 2019

Key Events This Week Brexit rumbles on Late Wednesday evening the House of Commons voted in favour of legislation which forces the UK government to request another extension to the Brexit process. The bill, tabled by Labour MP Yvette Copper, passed by the narrowest of majorities – one vote. This means that Prime Minister Theresa May is now required to ask the EU for another extension to the Article 50 process in the case that her withdrawal deal does not secure backing....

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Brexit News, Chapter News, News, Uncategorized

Remarks by Commissioner Moscovici at the press conference on Customs aspects in case of ‘no-deal Brexit’

Brussels, 3 April 2019 | Translated using Google Translate. View the original post HERE I am here to talk to you about the scenario in which the UK would leave the EU without a withdrawal agreement, and our preparation for this eventuality for EU customs. Before getting to the heart of the matter, I would like to make several political reminders. First, the European Commission has never wanted Brexit. We said the day after the referendum in June 2016 that we regret...

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Brexit News, Chapter News, News

Statement by President Juncker on the United Kingdom’s withdrawal from the European Union at the European Parliament’s plenary session

Brussels, 3 April 2019 President Tajani, Honourable Members of this House, The developments in Westminster over the past days have convinced me of what I already knew. The best way forward is the ratification of the Withdrawal Agreement. It has already been agreed by the Government of the United Kingdom, endorsed by this House as well as by the European Council. In its decision 10 days ago, the European Council paved the way for an extension of the Article 50 negotiation period until...

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Chapter News, News

Towards a genuine capital markets union : article by F. Villeroy de Galhau et J. Weidmann

Virtually everything about Brexit is surrounded by uncertainty, but one thing has become clear – how costly it is going to be to leave the single market. Our common market is an out-and-out success. It has raised economic output, increased the choice of goods and services, and at the same time lowered prices for consumers. But we can make it work better. With respect to capital markets, we still forego the benefits of further integration. While geographical diversification is...

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Member News

Visiting the EU After 2021? You May Need to Apply for ETIAS Authorisation

By Claire D. Nilson & Philip Novak | Faegre Baker Daniels LLP. From 2021, visitors to the European Union (EU) who do not require a visa will have to apply for authorisation through the European Travel Information and Authorisation System (ETIAS). This new pre-travel screening system will apply to visitors to countries that are in the Schengen Area of the EU. Countries within the Schengen Area include all EU member states (except for Ireland and the United Kingdom (U.K.)), as...

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Brexit News, Chapter News, News

Brexit preparedness in the area of Health and Food Safety

Speech by European Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen,  4 April 2019 Ladies and Gentlemen, As you all know, we have repeatedly stated that the Commission regrets the decision of UK to leave the European Union. Following the latest developments, a no-deal scenario is highly likely. Let there be no doubt whatsoever: a “no-deal” scenario would be extremely costly and disruptive. The economic consequences would have a significant impact on the UK, and to a lesser extent the EU. The EU...

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Brexit News, Chapter News, News

Visa free travel after Brexit: Council and European Parliament reach agreement

The Council and the European Parliament have agreed that, following Brexit, UK citizens coming to the Schengen area for a short stay (90 days in any 180 days) should be granted visa free travel.This agreement was confirmed yesterday by EU ambassadors on behalf of the Council and by the European Parliament Civil Liberties, Justice and Home Affairs committee today. The text now needs to be formally adopted by the European Parliament and the Council. According to EU rules, visa exemption...

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Member News

The role of an agent in complex cross-border deals

Not all financial or capital markets deals are straightforward. As markets mature and investors demand more from their deals, and as deals start to involve cross-border securities, all parties are finding their roles somewhat in flux. Traditionally when looking at deals such as syndicated loans, restructuring corporate debt, securitisation, or even a bond issuance placed in a mature market, it is not unusual for both lenders and their borrowers, guarantors and issuers to bring a fiduciary party such as a...

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Member News

Cookies: European Court Clarifies Key Issues on Consent

By Huw Beverley-Smith & Jonathon A. Gunn | Faegre Baker Daniels LLP On 21 March 2019, an advocate general (AG) of the Court of Justice of the European Union (CJEU) delivered an opinion that sheds light on key issues related to websites’ use of cookies — data packets that can be used by websites to track individuals’ browsing histories and other data. Thiss followed a request for a preliminary ruling from the Federal Court of Justice in Germany (FCJ) regarding the...

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