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Jun 28, 2016

Brexit: Issues and Q&A for Businesses

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On Thursday 23 June 2016, the UK electorate voted to leave the European Union. While this vote was advisory in nature, we expect that ultimately the UK Government and Parliament will respect the outcome and serve notice to terminate the UK’s membership of the EU, thereby commencing a negotiation of the terms of both the UK’s withdrawal from the EU and of a framework for its new relationship with the EU and its other trading partners. This memorandum focuses on some of the main legal and commercial impacts of the UK’s proposed exit, across a broad range of commercial and industrial areas where UK business may be impacted or English law is used. 

We start with a brief look at the UK legal basis for incorporation of EU law, and then analyse the impacts of Brexit in the context of specific commercial issues: M&A, capital markets, finance, tax and privacy. This is relevant for industries such as financial institutions, manufacturing, export, retail, defence, energy and consumer products. Our separate note published on 24 June addressed certain key financial regulatory issues, and a note dated 21 March discusses the various options for a post-Brexit UK-EU relationship. This note also considers the withdrawal process under Article 50 of the Treaty on European Union (the Lisbon Treaty) and the possible ramifications for Scotland and other parts of the UK.

View full memo, Brexit: Issues and Q&A for Businesses

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

James Duncan

Partner

Finance

+44 20 7655 5757

+44 20 7655 5757

London

David Dixter

Partner

Capital Markets

+44 20 7655 5633

+44 20 7655 5633

London

James Webber

Partner

Antitrust

+44 20 7655 5691

+44 20 7655 5691

+32 2 500 9871

+32 2 500 9871

London

Susanna Charlwood

Partner

Litigation

+44 20 7655 5907

+44 20 7655 5907

London

John Adams

Partner

Investment Funds

+44 20 7655 5740

+44 20 7655 5740

London

Simon Letherman

Partner

Tax

+44 20 7655 5139

+44 20 7655 5139

London

Joshua Thompson

Partner

Finance

+1 212 848 8703

+1 212 848 8703

New York

Jordan Altman

Partner

Intellectual Property Transactions

+1 212 848 7125

+1 212 848 7125

+1 650 838 3741

+1 650 838 3741

New York

Kolja Stehl

Counsel

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5864

+44 20 7655 5864

+49 69 9711 1623

+49 69 9711 1623

London

Jo Rickard

Of Counsel

Litigation

+44 20 7655 5781

+44 20 7655 5781

London

Sandy Collins

Professional Support Lawyer

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5601

+44 20 7655 5601

London