Michel Barnier moves to restart stalled Brexit talksFT

  • On a call with David Frost this afternoon, Michel Barnier said Brussels is prepared to start discussing legal treaty texts.
  • Barnier tweeted that Brussels is ready to “intensify” talks and that the EU is waiting for Britain’s reaction.
  • In response, Michael Gove welcomed the positivity just moments after stating that Britain is “increasingly well prepared to exit… without a trade deal”.

UK archbishops urge ministers not to breach international law over BrexitGuardian

  • The archbishops of Armagh, Canterbury, York, Wales and the Scottish Episcopal Church have publically challenged the internal market bill and condemned it as a “disastrous precedent”.
  • The archbishops said they “believe this would create a disastrous precedent. It is particularly disturbing for all of us who feel a sense of duty and responsibility to the Good Friday (Belfast) Agreement – that international treaty on which peace and stability within and between the UK and Ireland depends …”.
  • In a letter written to the FT, the archbishops asked legislators “to consider this bill in the light of values and principles we would wish to characterise relationships across these islands long after the transition period”.

Stock traders caught in EU-UK dual-listing dilemma to get watchdog’s advice within daysMLex

  • Traders in stocks listed in both the EU and UK will this week get advice from the European Securities and Markets Authority on where they need to trade their shares.
  • The UK is implementing its own version of the EU regulations but if the EU does not recognise these laws as equivalent, London-based investment banks with EU branches may need to trade in both jurisdictions simultaneously.
  • “Absent an equivalence decision by the commission regarding trading in the UK, we need to have clarity on which shares are captured by the [share trading obligation]”, the ESMA chief told the European Parliament.

Pound steady as investors shrug off warning of no EU-UK trade dealFT

  • Despite Boris Johnson’s statement on Friday that the UK may leave the EU without a deal, sterling has remained stable suggesting that the market still believes the UK will not walk away from the talks.
  • Brexit fatigue combined with the effects of the coronavirus crisis means Brexit now has less of an impact on UK rates and bond yields.
Author

Jessica's practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica's trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica's anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK's trading position generally, and clients' businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

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