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Recommendations
The report recommends that the Government should:
Commercial law
The report recommends that the Government should aim to replicate the provisions of Brussels I Recast as closely as possible, perhaps using the EU-Denmark agreement as a blueprint. As a minimum, it must endeavour to secure membership of Lugano II and the 2005 Hague Convention in its own right. Rome I and II should be brought into domestic law. The Government must also address the potential liabilities for non-performance of contractual duties that financial institutions may face as a consequence of Brexit. [...]
The Court of Justice of the EU
The Court of Justice of the EU (CJEU) is the ultimate interpreter of EU law. The Government has in recent months repeatedly stated its intention to end its jurisdiction in the UK. However, the report concludes that it remains unclear how civil justice co-operation will work without the CJEU or another court playing a limited arbitral role. [...]
Cross-border legal practice rights and opportunities
The Committee recognises that the legal services sector underpins many areas of UK economic activity; the report concludes that its ability to continue to facilitate these in the EU will diminish without protection of existing practising rights there for UK lawyers, and that there is also clear evidence of reciprocal benefit. The report recommends that the Government include achieving this protection in its Brexit negotiating strategy.
The Committee believes that overall the implications of Brexit for the legal services sector give cause for concern, but not hyperbole: most of the sector's strengths are unabated, and sensible discussions between the UK and EU ought to protect many of the advantages of their existing cooperation. However, the report recommends that the Government should consider and promote the legal services sector in the context of its expected post-Brexit trade recalibration and the pursuit of new deals; it should outline steps it will take to protect and provide opportunities for the sector. [...]
Related House of Lords report: Brexit: justice for families, individuals and businesses?