HM Revenue and Customs (HMRC) has issued a letter to 145,000 UK businesses setting out actions they need to take now to prepare for the “unlikely event of the UK leaving the EU without a deal.” More substantial steps may be...more
12/7/2018
/ Business Entities ,
Cross-Border Transactions ,
Customs ,
EU ,
Exports ,
HMRC ,
Imports ,
No-Deal Brexit ,
Taxation (Cross-border Trade) Act 2018 (TCTA 2018) ,
Transitional Arrangements ,
Transportation Contracts ,
UK ,
UK Brexit ,
Value-Added Tax (VAT) ,
Withdrawal Agreement
The EU has agreed in principle on a strengthened framework to ensure that foreign investment does not threaten security and public order, while keeping the EU open to foreign investment. The draft FDI Regulation does not go...more
The U.S. yesterday commenced the phased re-introduction of its pre-JCPOA extra-territorial sanctions in relation to Iran – with some measures applying immediately, and others from 5 November. The EU has condemned U.S....more
8/9/2018
/ Blocking Statutes ,
China ,
Economic Damages ,
EU ,
European Commission ,
Extraterritoriality Rules ,
Financing ,
Foreign Relations ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Member State ,
Notice Requirements ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Secondary Sanctions ,
Trump Administration
The UK government has published proposals for extending government scrutiny of investment to address the national security risks posed by acquisitions of ownership of, or control over, certain entities or assets....more
The EU and Japan have signed a new trade agreement;1 once ratified, it is likely to come into force in early 2019.
Headlines
- Creates an open trade zone covering 600 million people and 30% of global GDP.
- Phases...more
The UK government has widened the circumstances in which it may block mergers and takeovers of businesses in the military, dual-use, computing hardware and quantum technology sectors. Further strengthening of the UK rules is...more
6/19/2018
/ Blocked Mergers ,
Dual Use Goods ,
EU ,
EU Merger Directive ,
European Commission ,
Exports ,
Foreign Direct Investment ,
Member State ,
Mergers ,
Military Goods ,
National Security ,
Popular ,
Software ,
Takeovers ,
Technology Sector ,
UK
Following the U.S. decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reimpose sanctions on Iran, the EU has confirmed its full commitment to keep the agreement alive for the remaining parties, as...more
6/13/2018
/ Blocking Statutes ,
EU ,
European Commission ,
Exemptions ,
Foreign Relations ,
General Licenses ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanction Violations ,
Secondary Sanctions ,
Trade Relations ,
Trump Administration ,
Waivers ,
WTO
President Trump announced today, May 8, 2018, that the United States would withdraw from the Joint Comprehensive Plan of Action (“JCPOA”), the Iran nuclear deal implemented in January 2016. In connection with the...more
After Brexit, while the UK is widely expected to remain closely aligned with EU sanctions, one area where the UK could offer a more business-friendly approach is the grant of licences authorising businesses to conduct...more
5/9/2018
/ Blocked Entities ,
Blocked Person ,
ECJU ,
Economic Sanctions ,
EU ,
Exports ,
Financial Transactions ,
General Licenses ,
Member State ,
Office of Financial Sanctions Implementation (OFSI) ,
UK ,
UK Brexit
On 12 May 2018, US President Trump will decide whether or not to renew the US sanctions relief in relation to Iran. Declining to do so would put the US in breach of, and amount to US withdrawal from, the JCPOA, the Iran...more
4/23/2018
/ China ,
EU ,
France ,
Germany ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Negotiations ,
Nuclear Power ,
Russia ,
Secondary Sanctions ,
Trump Administration
With just over a year to Brexit, slated for 11.00 p.m. on 29 March 2019, it is time to ensure that your house is in order contractually. By ensuring that your business contracts are in the best possible shape and...more
2/14/2018
/ Arbitration ,
Brussels Regulation ,
Choice-of-Law ,
Contract Terms ,
EU ,
Free Movement ,
General Data Protection Regulation (GDPR) ,
Intellectual Property Protection ,
Jurisdiction ,
Material Adverse Change Clauses (MACs) ,
Multinationals ,
Rome Regulation ,
UK Brexit
In 2017 there were a number of major sanctions developments in the EU and the US, with implications for businesses both in terms of keeping their compliance processes effective, and in terms of what to do if breaches are...more
2/6/2018
/ Anti-Money Laundering ,
CAATSA ,
Compliance ,
Economic Sanctions ,
EU ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
North Korea ,
Nuclear Power ,
Office of Financial Sanctions Implementation (OFSI) ,
Russia ,
Sovereign Debt ,
UK ,
UK Brexit ,
Venezuela
The European Commission has issued a Notice drawing attention to the legal ramifications of Brexit for industrial products placed on the EU-27 market in the event of no alternative arrangements being agreed for a transition...more
2018 is the year that the UK and EU will look to finalise their Brexit deal; to settle the trading arrangements for what could be a lengthy ‘transition period’; and start discussions on the shape of their future long-term...more
The annual update of the EU’s list of dual-use items subject to export controls will shortly come into force. The UK will update its open general licences that are affected. Businesses exporting dual-use items should check...more
The EU and Japan have reached agreement on “the biggest bilateral trade agreement ever negotiated by the European Union”, covering a combined market of over 600m people and 30% of global GDP....more
12/13/2017
/ Agricultural Sector ,
Automotive Industry ,
E-Commerce ,
EU ,
Financial Services Industry ,
Imports ,
Japan ,
Pharmaceutical Industry ,
Regulatory Oversight ,
Telecommunications ,
Trade Agreements ,
Trade Relations ,
UK Brexit
After Brexit, customs declarations to UK Customs are expected to increase five-fold to 255 million annually and the UK companies making declarations to double to over 270,000. But only 0.2% of those traders have AEO status –...more
Dechert London’s International Trade and EU Law Team with the support of the Russo-British Chamber of Commerce recently hosted a roundtable discussion on the sanctions against Russia. ...more
The risk of a no agreement ‘cliff-edge’ is growing and the prospects for a transitional agreement, while somewhat improved, remain uncertain. The groundwork in Whitehall and the negotiations in Brussels have made only limited...more
Businesses and consumers need certainty over the laws that underpin trading across the borders of the EU and the millions of contracts they make each day which currently benefit from the legal certainty membership of the EU...more
Yesterday, President Trump signed H.R. 3364, the “Countering America’s Adversaries Through Sanctions Act,” enacting into law limited additional sanctions against Russia and, critically, restricting his ability to suspend or...more
After weeks of discussion and procedural uncertainty, the U.S. House of Representatives passed new legislation by a vote of 419–3 that, if enacted into law, will strengthen existing sanctions against Russia and also impose...more
7/29/2017
/ Congressional Authority ,
Cyber Attacks ,
Economic Sanctions ,
Energy Sector ,
Foreign Relations ,
Hackers ,
Iran ,
Iran Sanctions ,
North Korea ,
Pending Legislation ,
Russia ,
SSI List ,
Trump Administration
The result of the UK’s general election on 8 June has reignited speculation that the UK government might pursue a softer Brexit. In this update, we provide a reminder of the main “softer” Brexit models which had previously...more
6/13/2017
/ Customs Unions ,
EFTA ,
EU Single Market ,
European Court of Justice (ECJ) ,
European Economic Area (EEA) ,
Free Movement ,
Free Trade Agreements ,
General Elections ,
Political Parties ,
Tariffs ,
Theresa May ,
UK ,
UK Brexit ,
WTO
The Court of Justice of the European Union decided last week that free trade agreements concluded with the EU must receive prior approval by each Member State if they provide for investor-State arbitration. The ruling, given...more
5/30/2017
/ Arbitration Agreements ,
Canada ,
CETA ,
EU ,
European Commission ,
European Court of Justice (ECJ) ,
European Parliament ,
Free Trade Agreements ,
Investor State Dispute Settlement (ISDS) ,
Investors ,
Member State ,
Singapore ,
UK
A gentle reminder for all those with a turnover above £36 million and doing business in the UK.
...more