Introduction Following the recent third rejection of the Brexit withdrawal agreement in the UK Parliament, a no-deal Brexit remains firmly on the agenda. This alert sets out some of the main sanctions and export controls issues arising from a no-deal Brexit which are likely to impact upon companies operating in…
27 – 29 September 2016 – London
3 & 4 November 2016 – Amsterdam
15 & 16 November 2016 – Santa Clara
For in-house legal counsel and compliance professionals
These conferences in Amsterdam, London and Santa Clara will provide a practical overview of significant developments in the Anti-Bribery and International Trade arena, and the implications for your company’s compliance programme and procedures. As usual, you will hear from our experts from across the globe.
Further details for each conference are provided below.
With the UK referendum on a so-called “Brexit” set to take place in under two months, businesses should start considering what effect leaving the European Union (“EU“) will have for them. In our previous Blog post we set out general considerations for businesses in the lead-up to the referendum on 23 June 2016, which would help them establish whether or not the UK’s membership of the EU is an overall benefit to them or not.
If the UK left the EU, things will change, at least in the short term. It is a safe assumption that the European Communities Act 1972 (“ECA“) will be repealed, but what this means in practice is far from certain.
For businesses with a focus on customs and export controls, and businesses which frequently encounter sanctions issues as part of their day-to-day trade, we have compiled a more focused list of questions, to which consideration should be given when determining whether or not to remain in the EU, and what to do in the event of a Brexit.
The referendum to be held on 23 June 2016 will offer UK voters the choice of (i) remaining in the EU, or (ii) leaving, a so-called “Brexit”. The referendum is shrouded by uncertainty, both as to the result, and what might happen if a Brexit vote does in fact happen. Businesses themselves have little or no role or influence in the vote, but if a Brexit vote does happen, businesses can and should have a significant role in what comes next. In the period of uncertainty that will inevitably follow a Brexit vote, businesses with clear and reasoned views as to what should happen next will be listened to by the UK Government and Civil Service.
If there is a Brexit vote, the UK will need to have some form of relationship with the remaining EU Member States (the “EU-27“), as well as with third countries. There is currently no legal or political framework for what these relationships will look like, but what is sure is that there will be a significant period of uncertainty. What is likely is that most (if not all) trade agreements to which the EU is a party will cease to benefit the UK, and it is unlikely that new trade agreements will be concluded with all relevant third parties by the time the UK withdraws from the EU. At some point, therefore, the UK will lose (even if only on a temporary basis) the benefit of duty free trade in goods and liberalised access to service markets with the EU-27 and all other major trading partners.