Following the UK General Election on 12 December, the government now has the parliamentary majority it needs to enact its Brexit policy: an orderly exit from the EU on 31 January followed by a transition period until 31...more
1/10/2020
/ EFTA ,
EU ,
European Economic Area (EEA) ,
European Parliament ,
Free Movement ,
Free Trade Agreements ,
General Elections ,
No-Deal Brexit ,
Ratification ,
Transitional Arrangements ,
UK ,
UK Brexit ,
UK Parliament ,
Withdrawal Agreement ,
WTO
It is now clear that the UK will not go over the cliff by leaving the EU on 31 October without a Withdrawal Agreement: UK membership has been extended to 31 January 2020 (although Brexit could come sooner, if the recently...more
Brexit has been postponed again, until at least 31 October 2019, but with the possibility that it may occur sooner, maybe even within a few weeks....more
4/15/2019
/ Article 50 Treaty of the EU ,
Customs Unions ,
Election Results ,
EU ,
EU Single Market ,
European Parliament ,
Free Trade Agreements ,
No-Deal Brexit ,
Special Election ,
Tariffs ,
Time Extensions ,
UK ,
UK Brexit ,
UK Parliament ,
Withdrawal Agreement
Last week, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), the EU Council, and Canada imposed further sanctions targeting Russian individuals and entities allegedly involved in the escalation of...more
3/22/2019
/ Australia ,
Banks ,
Blocked Entities ,
Blocked Person ,
CAATSA ,
Canada ,
CBW Act ,
Economic Sanctions ,
EU Council of Ministers ,
Executive Orders ,
Legislative Agendas ,
Liquid Natural Gas ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Popular ,
Russia ,
SDN List ,
Ukraine ,
US State Departments ,
Venezuela
The UK Parliament, having for the second time rejected the Withdrawal Agreement negotiated between the UK government and the EU, will vote on it for a third time next week. If it is approved, the UK will ask the EU for a...more
When the UK leaves the EU it will cease to be a party to the EU’s free trade and investment agreements with some 70 countries, covering some 11% of UK trade. In the event of a "No Deal" Brexit, the UK’s trade with these...more
In a series of votes on 29 January, the UK parliament rejected proposals aimed at preventing the UK leaving the EU on 29 March without a Withdrawal Agreement in place. Although there was a narrow majority for a non-binding...more
The UK House of Commons has rejected the government’s proposed Withdrawal Agreement. Unless the Agreement (or an amended version of it) is approved by the House of Commons, or the Brexit date of 29 March 2019 is postponed or...more
1/16/2019
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Contract Terms ,
Corporate Counsel ,
Corporate Taxes ,
Cross-Border Transactions ,
EU ,
Exports ,
Free Movement ,
Imports ,
Intellectual Property Protection ,
MiFID II ,
No-Deal Brexit ,
Supply Chain ,
Tax Treaty ,
Trade Policy ,
Trade Relations ,
Transitional Arrangements ,
UCITS ,
UK ,
UK Brexit ,
Withdrawal Agreement
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