The Impact of Brexit on EU27 on Trade, Investments and Financial Services

2018 ◽  
Vol 18 (1) ◽  
pp. 20170097 ◽  
Author(s):  
Scheherazade S. Rehman ◽  
Pompeo Della Posta
Keyword(s):  
European Union ◽  
Financial Services ◽  
Trade Agreements ◽  
The European Union ◽  
Short Term ◽  
Legal Principles ◽  
Article 50 ◽  
The Uk ◽  
The Impact ◽  
Trade And Investment

On June 23, 2016, the UK decided to leave the European Union (EU), commonly known as “Brexit”. The UK has two years to conclude their new arrangement with the EU27 after evoking Article 50 Treaty of Lisbon officially, which it did on March 27, 2017. While there is a range of possible trade agreements most are unlikely as they would either imply repudiating firm EU legal principles or strong promises that the current UK government is committed to maintain. The article discusses these options. Moreover, the article focuses on the trade and investment flows between the UK and EU27 and discusses the possible short-term implications of Brexit with a specific attention to the most impacted sector, that of financial services.

Impact of Brexit on Zonal Approval Procedures and Mutual Recognition Procedures in Plant Protection Legislation

2020 ◽  
pp. 1-13
Author(s):  
Alexander KOOF
Keyword(s):  
European Union ◽  
Plant Protection ◽  
Mutual Recognition ◽  
Plant Protection Products ◽  
Case Law ◽  
The European Union ◽  
Protection Legislation ◽  
Article 50 ◽  
The Uk ◽  
The Impact

On 29 March 2017, the UK made use of Article 50 of the Treaty on European Union (TEU) and thus initiated its withdrawal from the European Union. As a result, the UK left the European Union on 31 January 2020 (23:00 UTC). This paper provides a legal assessment of the impact of the UK’s withdrawal from the European Union (Brexit) on zonal authorisation and mutual recognition procedures regarding the authorisation of plant protection products. Many legal issues are unclear in this respect due to the lack of European and national case law. The German Administrative Court of Braunschweig had to decide in an urgent procedure on the effects of Brexit with regards to the authorisation of a plant protection product in the mutual recognition procedure.

The Lived Experience of Financialization at the UK Financial Fringe

2021 ◽  
pp. 1-22
Author(s):  
LINDSEY APPLEYARD ◽  
CARL PACKMAN ◽  
JORDON LAZELL ◽  
HUSSAN ASLAM
Keyword(s):  
Lived Experience ◽  
Financial Services ◽  
Global Financial Crisis ◽  
Credit Market ◽  
Short Term ◽  
Dramatic Decline ◽  
The Everyday ◽  
The Subject ◽  
The Uk ◽  
The Impact

Abstract The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization.

The Scottish Conservatives and Europe: The Reluctant Brexit Party

2020 ◽  
pp. 169-181
Author(s):  
Anthony Salamone
Keyword(s):  
European Union ◽  
Conservative Party ◽  
Political Context ◽  
The European Union ◽  
House Of Commons ◽  
Future Prospects ◽  
Four Dimensions ◽  
The Uk ◽  
The Impact ◽  
The Eu

As Scottish Conservative leader, Ruth Davidson was a prominent campaigner for a ‘Remain’ vote in the European Union referendum of June 2016. Following the 2017 general election, meanwhile, Davidson repositioned herself as someone who could – aided by 13 Scottish Tory MPs in the House of Commons – influence the Brexit negotiations and nudge the UK Conservative Party towards a ‘soft’ rather than ‘hard’ deal with the EU. This chapter considers the impact of Brexit on the Scottish Conservatives during the leadership of Ruth Davidson in four dimensions: Brexit’s distinct Scottish political context, its electoral consequences, the conduct of Brexit within the UK, and the Brexit negotiations themselves. It concludes with reflections on the future prospects for the Scottish party in light of all four dimensions.

Part II UK Securities Markets, 4 Recognized Investment Exchanges (RIEs) and Recognized Clearing Houses (RCHs)

2021 ◽  
Author(s):  
Penn Bob ◽  
Forzani Alex ◽  
Allen & Overy LLP
Keyword(s):  
European Union ◽  
Financial Services ◽  
Securities Markets ◽  
Financial Instruments ◽  
The European Union ◽  
Financial Contracts ◽  
The Uk ◽  
Final Settlement ◽  
Market Infrastructure

This chapter summarizes and discusses the UK regulatory framework for recognized investment exchanges (RIEs) and recognized clearing houses (RCHs) under the Financial Services and Markets Act 2000 (FSMA). It considers the framework in light of the current and forthcoming European legislation. It also examines the applicability of the framework to RIEs and RCHs in the context of the recast Markets in Financial Instruments Directive II (MiFID II), European Market Infrastructure Regulation (EMIR) and the UK's departure from the European Union (Brexit). This chapter outlines the central role of exchanges and clearing houses in the operation of financial markets. It explains that the exchanges offer marketplaces for the trading of financial instruments, provide market data which facilitates trading, and establish standards for the offering of securities, while clearing houses manage the performance of financial contracts between the point of execution and final settlement and mitigating the risk and consequences of default.

Introduction

2020 ◽  
pp. 1-34
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
United Kingdom ◽  
European Parliament ◽  
The European Union ◽  
The United Kingdom ◽  
Uk Government ◽  
Article 50 ◽  
The Uk ◽  
The Eu

This introductory chapter provides an overview of the Withdrawal Agreement of the United Kingdom (UK) from the European Union (EU). The Withdrawal Agreement, adopted on the basis of Article 50 Treaty on European Union (TEU), spells out the terms and conditions of the UK departure from the EU, including ground-breaking solutions to deal with the thorniest issues which emerged in the context of the withdrawal negotiations. Admittedly, the Withdrawal Agreement is only a part of the Brexit deal. The Agreement, in fact, is accompanied by a connected political declaration, which outlines the framework of future EU–UK relations. The chapter then offers a chronological summary of the process that led to the adoption of the Withdrawal Agreement, describing the crucial stages in the Brexit process — from the negotiations to the conclusion of a draft agreement and its rejection, to the extension and the participation of the UK to European Parliament (EP) elections, to the change of UK government and the ensuing constitutional crisis, to the new negotiations with the conclusion of a revised agreement, new extension, and new UK elections eventually leading to the departure of the UK from the EU.

Relevance of EU Copyright Law to (Future) Non-EU Member States

2019 ◽  
pp. 173-198
Author(s):  
Eleonora Rosati
Keyword(s):  
European Union ◽  
Case Law ◽  
Copyright Law ◽  
The European Union ◽  
Eu Member States ◽  
Exceptions And Limitations ◽  
Eu Copyright Law ◽  
Eu Directives ◽  
The Uk ◽  
The Impact

This chapter discusses the impact of CJEU copyright case law on national copyright regimes, even beyond the wording of EU directives as transposed into national legal systems. To this end, it focuses on the UK and, following a discussion of what immediate changes the departure from the EU and the EEA (Brexit) would have (also with regard to issues of exhaustion), it explores to what extent case law of the Court of Justice of the European Union (CJEU) has changed UK copyright law. EU decisions have had an impact in areas such as: copyright subsistence, subject matter categorization, primary/accessory liability, standard of infringement, exceptions and limitations, and enforcement (with particular regard to website blocking jurisprudence). Overall, this chapter shows the legacy of CJEU case law, and how pervasive the impact of such case law is.

3. The relationship between European Union and United Kingdom competition law

2019 ◽  
pp. 57-75
Author(s):  
Sandra Marco Colino
Keyword(s):  
European Union ◽  
Competition Law ◽  
Eu Law ◽  
The European Union ◽  
National Competition ◽  
Current Interaction ◽  
Article 50 ◽  
The Uk ◽  
The Relationship ◽  
The Eu

This chapter focuses on the current interaction between European Union and UK law. EU law is currently a source of UK law. However, the relationship between the two regimes is expected to change in the future as a consequence of the UK’s decision to withdraw from the EU. The European Union (Withdrawal) Act 2018 stipulates that the European Communities Act 1972 will be ‘repealed on exit day’, which would be 29 March 2019 provided that the two-year period since Article 50 TEU was triggered is not extended. Once the European Communities Act 1972 has been repealed, EU law will cease to be a source of UK law. No major immediate changes to the national competition legislation are to be expected, but future reforms could distance the UK system from the EU rules.

3. Law-making: authority and process

2019 ◽  
pp. 27-72
Author(s):  
Martin Partington
Keyword(s):  
European Union ◽  
Detailed Account ◽  
The European Union ◽  
Council Of Europe ◽  
Legal Principle ◽  
Legislative Procedure ◽  
The Uk ◽  
The Impact ◽  
Law Making

This chapter considers how law is made in the UK, who makes it, and the constitutional principles which give them the authority for making it and imposing it on society. There is a detailed account of the legislative procedure of the UK Parliament, and the different types of legislation enacted by Parliament. The role of the senior courts in the development of legal principle is also considered. Finally, the law-making functions of key institutions of the European Union and the Council of Europe are considered. The impact of Brexit is also considered.

11. Financial crime

2019 ◽  
pp. 420-451
Author(s):  
Jeremy Horder
Keyword(s):  
European Union ◽  
Money Laundering ◽  
Criminal Law ◽  
Financial Crime ◽  
The European Union ◽  
Home Office ◽  
Corporate Activity ◽  
The Uk ◽  
The Impact ◽  
The Eu

This chapter examines three major examples of financial crime: fraud, bribery, and money laundering. The importance of financial crime, and of vigorous prosecution policies in relation to it, should not be underestimated. Fraud accounts for no less than one third of all crimes captured by the Crime Survey for England and Wales. The European Union Parliament has estimated that corruption costs the EU between €179 and €990 billion each year. Finally, the Home Office estimates that the impact of money laundering on the UK economy is likely to exceed £90 billion. An understanding of these crimes, and in particular the way that they reflect corporate activity, is nowadays essential to the study of criminal law.

23. Freedom of Establishment and to Provide Services

EU Law ◽  
2020 ◽  
pp. 832-888
Author(s):  
Paul Craig ◽  
Gráinne de Búrca
Keyword(s):  
European Union ◽  
Electronic Commerce ◽  
Financial Services ◽  
Case Law ◽  
Economic Interest ◽  
The European Union ◽  
Freedom Of Establishment ◽  
Provision Of Services ◽  
General Economic Interest ◽  
The Uk

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing students with a stand-alone resource. The Treaty on the Functioning of the European Union (TFEU) has two separate chapters on self-employed persons who move on a permanent or temporary basis between Member States: the chapters on freedom of establishment and freedom to provide services. The central principles governing freedom of establishment and the free movement of services are laid down in the TFEU and have been developed through case law. Important developments have also been brought about through secondary legislation in sectors such as insurance, broadcasting, financial services, electronic commerce, telecommunications, and other ‘services of general economic interest’. This chapter focuses on the broad constitutional principles applicable to every sector. The UK version contains a further section analysing issues concerning freedom of establishment and the provision of services between the EU and the UK post-Brexit.

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