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02 November 2017

Brexit Weekly

Brexit transition, withdrawal bill, clearing after divorce from EU, GDPR and more.

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Brexit & UK   About this email

  Articles from 26 October 2017 - 02 November 2017

  Brexit & UK
Financial Times: Brexit deal will favour EU on money, says Davis
David Davis has admitted that Britain’s exit deal with the EU “will probably favour the union on things like money”, as he gave the clearest glimpse yet of the government’s preferred end game for Brexit talks.  View Article
The Guardian: Brexit transition period likely to be limited to 20 months, EU officials say
Despite Theresa May’s request for two-year transition, Brussels sources say exit date likely to be 31 December 2020.  View Article
The Irish Times: Brexit transition could take up to five years, says Enda Kenny
The former taoiseach told a New York audience that the UK has not drafted trade deals for 40 years.  View Article
Financial Times: Brexit to test £17bn tax haul on foreign banks
Foreign banks contributed £17bn to the UK’s public finances in the latest financial year, raising concerns about potentially significant tax losses if overseas lenders accelerate plans to shift staff and operations elsewhere in Europe.  View Article
The Times: Quick deal on Brexit vital, warn chiefs of HSBC and Goldman Sachs
Two senior bankers have called for clarity over Britain’s future relationship with the European Union, warning that jobs and investment depend on a prompt decision.  View Article
Financial Times: BoE calls for Brexit withdrawal bill to address cross-border financial contracts
Sam Woods, told a House of Lords select committee that having a bilateral agreement within the withdrawal bill was the central bank’s preferred option to ensure derivative contracts and insurance policies can still be serviced.  View Article
Commercial Risk Europe: UK regulator warns financial services firms nearing decision day on Brexit
The UK regulator has warned that its financial services firms will start taking irreversible decisions on the location of operations and staff in the next couple of months, if the UK and EU fail to agree a transition deal as part of Brexit negotiations.   View Article
Financial Times: LSE admits EU supervisory case on repo market after Brexit
The London Stock Exchange Group has admitted that part of the €1tn-a-day London market for clearing trades denominated in euros could justify tougher oversight from the EU or even move outside the UK.  View Article
Financial Times: Post-Brexit financial regulation cannot be left to negotiators
The Royal Bank of Scotland's chairman Howard Davies writes that a group of Wise People is needed to find a solution to the City of London’s problem.  View Article
UK Treasury Committee publishes Report on EU insurance regulation
The Treasury Committee published its Report on the Solvency II Directive—a harmonised EU-wide insurance regulatory scheme.  View Article
UK Government response to Brexit: trade in goods
The EU External Affairs Sub-Committee has received a response from the Rt Hon David Davis MP, Secretary of State for Exiting the European Union, to its report, Brexit: trade in goods.  View Article
Financial Times: Customs teams in EU27 unprepared for hard Brexit
Many of Britain’s leading EU trade partners will not have enough customs officers in place to cope with a “no deal” Brexit for at least a year after the UK is scheduled to leave the bloc, a Financial Times analysis shows.  View Article
POLITICO: UK households £600 worse off because of Brexit
The National Institute for Economic and Social Research said the economic slowdown in the UK is directly attributable to the vote to leave the European Union.  View Article
City AM: London has been named the top European economic city, making the UK the most attractive country for employers
The UK has been dubbed the most attractive country for employers and staff, with London retaining its crown as the top European economic city, according to a new report.  View Article
UK Government responds to Brexit: the EU data protection package report
The Government has responded to the report of the EU Home Affairs Sub-Committee on Brexit: the EU data protection package.  View Article

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