Brexit

Articles - The recent Brexit negotiations and votes by the British Parliament increase the risk of a hard Brexit, or at least a Brexit following which the UK would leave the EEA. In such case, chemical substances registered in the UK will no longer be legally registered under REACH, and import and export of hazardous chemicals will require prior approval. This blogpost elaborates on a few of the consequences for businesses.

Articles - FSMA gives local guidance - Belgian legislature prepares contingency measures The UK is due to leave the European Union on 29 March 2019. Unless specific arrangements granting the UK at least a temporary status quo will be adopted before 29 March 2019, the UK financial industry will be considered third-country entities and will therefore be seriously restricted in carrying on their activities in the EEA, including Belgium.

Short Reads - On 4 February, the Dutch Minister of Finance published an amendment to the Exemption Regulation under the Financial Supervision Act (Vrijstellingsregeling Wft). The amendment provides for a temporary exemption from the licencing requirement for investment firms that provide investment services on a cross border basis from the United Kingdom in the Netherlands to professional parties or trade for their own account.

Speaking slot - On 24 September 2018 Tom Barkhuysen will talk about the importance of fair court fees. He will be one of the keynote speakers at the conference, which will also include members of the House of Representatives and officials from the Ministry of Justice and Security.

Short Reads - A Brexit without a deal, or with a deal that does not cover all relevant aspects, is still a potential scenario. We have highlighted a number of unexpected legal consequences of Brexit in such a no deal or incomplete deal scenario.

Short Reads - As it stands, the UK will exit the European Union at midnight on 29 March 2019. Therefore, businesses within the UK, or with trade relations with the UK, would be best advised to assume that a no-deal Brexit is inevitable. The exchange of personal data  within the EU is governed by the General Data Protection Regulation (GDPR). In a no-deal Brexit, the GDPR will cease to be applicable in the UK upon its EU exit.

Short Reads - De minister van Financiën heeft op 4 februari jl. een wijziging van de Vrijstellingsregeling Wft gepubliceerd. Ondernemingen die vanuit het Verenigd Koninkrijk in Nederland door middel van grensoverschrijdende dienstverrichting beleggingsdiensten verlenen aan professionele partijen of voor eigen rekening handelen, worden tijdelijk vrijgesteld van de vergunningplicht.

Seminar - On Tuesday, 3 October 2017, Stibbe’s Corporate and M&A team gives an overview of the changes that will be brought by the coming Belgian Companies Code reform.