Clifford Chance

Brexit Update: Implications for Securitisations

17 September 2020

A Brexit milestone was reached on 31 January 2020, when the UK ceased to be a member of the EU on entry into force of the long-awaited Withdrawal Agreement. However, the immediate implications of this exit were minimised due to the transition period, under which the UK is treated as a member of the EU for most purposes until 31 December 2020.

The end of the transition period therefore means the UK and the EU face another "no-deal" scenario unless a comprehensive trade deal is agreed before the end of 2020. With attention diverted by COVID-19, political progress on a UK-EU trade deal has been slow and, at time of writing, many are questioning whether a deal will be concluded by the end of the year.

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