No Deal Brexit and Exhaustion of Rights

On 28 November 2018, the UK government published a draft version of a statutory instrument (Exhaustion of Rights SI), and explanatory memorandum, which together explain the changes which will be made to UK intellectual property law relating to exhaustion of rights, in the event of a no-deal Brexit. The purpose of the SI is to correct any deficiencies in the retained EU law relating to exhaustion of rights, arising as a result of Brexit.

House of Commons committee launches engagement tool for Brexit

Businesses need to be alert to potentially significant changes to their legal and regulatory environments as a result of a no-deal Brexit.  The Government is currently publishing a 'storm' of statutory instruments ("SIs") that will, in some cases, materially alter the way in which businesses are regulated in the UK post-Brexit.

UK Government publishes details on draft regulations amending FSMA

On 22 November 2018, HM Treasury published Explanatory Information on the draft Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (the “Draft FSMA Regulations“).

No deal Brexit and Copyright – Part 1: Broadcasting and online content

On 26 October 2018, the UK government published a draft version of a statutory instrument (Copyright SI) and explanatory note together with guidance issued by the UK Intellectual Property Office (IPO) which explain the changes which will be made to UK copyright law in the event of a ‘no deal’ Brexit.

From rule makers to rule takers? State Aid in the UK post-Brexit

On 14 November 2018, the European Commission and the UK government announced that they had agreed a draft Withdrawal Agreement. While this agreement still requires the consent of the UK Parliament and the remaining 27 EU Member States, the path forward for the continued application of State aid law in the UK appears clearer.

UK regulators prepare for ‘No Deal Brexit’

HM Treasury has proposed a Temporary Permissions Regime (“TPR“) as a temporary measure to replace the passporting regime in Schedule 3 and 4 of the Financial Services and Markets Act 2000 (“FSMA“) in the event of a no-deal Brexit. The legislative framework for the TPR is found in the EEA Passport Rights (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 (SI 2018/1149), enacted on 6 November 2018.

What happens now?

The announcement of the Withdrawal Deal has triggered a very uncertain process which is changing by the minute. One thing seems sure – the parliamentary process is going to be critical.  Here is an explanation of how the process works.

What does the Withdrawal Agreement say about IP?

On November 14, UK Cabinet backed the Withdrawal Agreement and Political Declaration on the Future Relationship agreed between the respective negotiating teams of the UK Government and the EU Commission. The Withdrawal Agreement covers the protection of existing unitary intellectual property rights in Articles 54 to 61.

UK preparations for a ‘no deal’ Brexit – competition law

On 30 October 2018, the UK government published a draft version of a statutory instrument (Competition SI) and guidance issued by the Competition and Markets Authority (CMA) which, taken together, clarify how a 'standalone' UK competition regime would operate in the event of a 'no deal' Brexit scenario.  Though the Competition SI seeks to preserve as far as possible the current competition framework and policy, it makes specific provision for the immediate transition to such a standalone UK regime – in particular, confirming that the CMA, operating under newly repatriated powers, would be free to take jurisdiction over ongoing EU antitrust and merger reviews as of 30 March 2019.

The impact of the U.S. midterm elections and the prospects of a US-UK deal

The prospects for a UK-U.S. free trade agreement ("FTA") might have been muddied somewhat by the outcome of the U.S. 2018 mid-term elections. The UK has consistently put forward a potential UK-U.S. FTA as one of the main benefits of Brexit. Similarly, President Trump has recently reiterated its support for a UK-U.S. FTA (whereas President Obama had warned that Brexit would put the UK at the "back of the queue for trade talks") and the USTR notified the U.S. Congress on 16 October 2018 of its intent to launch trade negotiations, inter alia, with the UK.

The draft Brexit amendments to the Payment Accounts Regulations

In the midst of the raft of Brexit related statutory instruments being published by the government in recent weeks, HM Treasury has published a draft version of the Payment Accounts (Amendment) (EU Exit) Regulations 2018. HM Treasury intends to lay the regulations before Parliament in Autumn 2018.

The time is now: EIOPA calls for action to ensure service continuity

Following its Opinion on 21 December 2017, the European Insurance and Occupational Pensions Authority (EIOPA), yesterday (5th November) issued a call to action to ensure service continuity in cross-border insurance.