16 November 2017
Supporting Europe's Economies and Citizens
In this new report, Supporting Europe’s Economies and Citizens: a modern approach to financial services in an EU-UK Trade Agreement, UK Finance sets out a model for cross-border market access following UK’s exit from EU.
The report was developed in collaboration with Clifford Chance and Global Counsel LLP and proposes an ambitious trade in services framework that would allow customers across Europe to continue to benefit from access to EU and UK banking and capital markets services.
26 October 2017
A Brexit transition period - wasting asset or business necessity?
The UK is due to leave the EU in March 2019 and it is now just over a month since Theresa May, the UK Prime Minister, sought to give new momentum to the Brexit negotiations and talked in Florence about the need for an implementation period so that businesses and public services only have to plan for one set of changes. Mark Poulton, Head of Corporate, London, discusses with Clifford Chance experts the timeline for achieving the proposed implementation or transition period, the legal challenges involved, the implications for trade and for multinational businesses outside the financial services sector more generally.
14 September 2017
EU proposal for screening of Foreign Direct Investments
The European Commission has presented proposed legislation that would create an EU framework for screening of foreign takeovers and investments on grounds of security and public policy.
The draft Regulation would allow the Commission to review (but not block) certain investments of "Union interest" and to issue a non-binding opinion to the member state in which the investment takes place. It would also clarify the scope of the issues that member states may take into account when applying their national screening regimes without falling foul of EU law, set certain common standards for those regimes and implement a system of cooperation and information exchange between member states and the Commission.
04 July 2017
Insights from European SMEs, Corporates and Investors
In a new report, Bridging to Brexit, published by AFME and commissioned from The Boston Consulting Group with support from Clifford Chance, the impact of Brexit on SMEs, large corporates and investors’ economic growth is assessed. The findings indicate that a hard Brexit will be a particular challenge for SMEs, but also raises issues for corporates and investors, with wider implications for growth in the real economy.
12 June 2017
Brexit, Trump and other shocks to the system
George Magnus is an independent economist and commentator, an Associate at the China Centre, Oxford University, and former Chief Economist at UBS Investment Bank. He is widely credited with having identified the trigger points for the financial crisis in 2008. In this extract from a talk he gave at Clifford Chance he explores populism, Trumponomics, the impact of Brexit and the influence of China on the world order.
31 March 2017
Time to adapt: Achieving an orderly transition for banking – an EU customer perspective
This paper supplements the November 2016 report 'Time to adapt – Achieving an orderly transition for banking' and looks in greater detail at the nature of the financial services supply chains that exist between the UK and the rest of the EU. It assesses the practical implications for EU-based businesses of changes to their ability to source financial services from the UK – especially if these changes are not carefully managed. The report was developed in collaboration with UK Finance and Global Counsel LLP.
20 March 2017
Brexit: What will the Great Repeal Bill do?
The Great Repeal Bill will, according to the UK Government, preserve EU law as it stands at the moment before the UK leaves the EU and allow changes to be made by secondary legislation in order to ensure that it functions sensibly. Though apparently straightforward, the volume and complexity of EU law makes this domestication of EU law a complicated task.
02 March 2017
The impact of Trump and Brexit
Global trade is undergoing fundamental change. Brexit, President Trump’s intention to put “America first” and Asia’s focus on trade liberalisation and globalisation will have a dramatic impact on trade for years to come. Here Clifford Chance experts discuss the potential repercussions for businesses and their supply chains.
21 February 2017
Brexit: Will the UK have to pay to leave the EU?
Who should pay what as a result of the UK’s withdrawal from the EU raises difficult questions that, unless resolved, have the potential to render the negotiations on the UK’s future relations with the EU substantially more complex.
13 February 2017
The future of trade for the UK
As the UK Government prepares to begin negotiations to leave the EU in early March, Clifford Chance, in partnership with the CBI, has produced a practical guide to help businesses understand the new landscape of trade between the UK and the rest of the world.
30 November 2016
Brexit: The international economic implications
Brexit will have a profound impact on the UK economy and the UK’s relationship with Europe and the rest of the world. In this extract from a talk given at Clifford Chance, Stephen King, Senior Economic Adviser at HSBC and author of ‘When the money runs out. The end of western affluence,’ looks at the global implications of the UK’s decision to leave the EU.
30 November 2016
Time to adapt: Achieving an orderly transition for banking
This report looks at why transition is needed and how transition arrangements may be structured to avoid a disorderly exit and deliver the most positive outcome for UK and EU27 citizens. It builds on the analysis in the August 2016 report 'UK exit from the EU: An orderly transition for banking'. The report was developed in collaboration with UK Finance and Global Counsel LLP and has since been supplemented by a second report "Time to adapt: Achieving an orderly transition for banking – an EU customer perspective", which looks in greater detail at the nature of the financial services supply chains.
30 August 2016
UK exit from the EU: An orderly transition for banking
This report looks at the impacts of the UK's withdrawing from the EU upon the products and services provided by the banking industry that are of greatest value for businesses and customers in the UK and EU27. It considers the options to minimise the potential disruption for customers and businesses in the UK and EU27 that might otherwise occur should there be a disorderly exit and the tools available to deliver the most positive outcome for the UK's and EU27's citizens. The report was developed in collaboration with UK Finance and Global Counsel LLP.