Brexit

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The UK’s historic decision to leave the EU has left many in the global business community with a new set of challenges.

As the process plays out in the coming months and years, this online resource will play host to our insight in a variety of areas, as well as provide direction on where more information can be found.

If you have any Brexit related questions, please feel free to get in touch with your regular Debevoise contact in the first instance. Alternatively, you can email us at brexit@debevoise.com.

Our Thought Leadership

Read more of our thought leadership here.

Spotlight on Post-Brexit Treaty Practice:
Trade and Investment Treaties: A 360 Degree Review
Private Equity International: What Brexit means for fund marketing
Practical Law Magazine: Cross-border financial services after Brexit: searching for certainty
EU Commission Confirms View That the EU Should Not Consent to UK Accession to the Lugano Convention 2007
UK Accession to the Lugano Convention 2007—View of the EU Commission
European Funds Comment: Fundraising in the EU: The Challenges Ahead
UK Proposals to Reform Listing Rules to Attract SPACs and Technology Companies

Brexit Quick Facts

A referendum - a vote in which everyone (or nearly everyone) of voting age can take part - was held on Thursday 23 June, 2016, to decide whether the UK should leave or remain in the European Union. Leave won by 51.9% to 48.1%. The referendum turnout was 71.8%, with more than 30 million people voting.

What is Article 50?

Article 50 is a plan for any country that wishes to exit the EU. It was created as part of the Treaty of Lisbon - an agreement signed up to by all EU states which became law in 2009. Before that treaty, there was no formal mechanism for a country to leave the EU.

By a majority of 8-3, the UK Supreme Court has ruled that an Act of the UK Parliament is required before the UK government can notify the EU of the UK’s intention to withdraw from the EU by giving notice pursuant to Article 50 of the Treaty on European Union.

What happens to UK citizens working in the EU?

A lot depends on the kind of deal the UK agrees with the EU. If the government opted to impose work permit restrictions on EU nationals, then other countries could reciprocate, meaning Britons would have to apply for visas to work.

External Resources

Department for Exiting the European Union Official Website of the European Union Financial Times Brexit Microsite Financial News Brexit Microsite The Lawyer Brexit Hub

What We're Reading

‘Confusing’ Brexit support fund deters SMEs from applying – Financial Times Brussels Backs Down: Beyond Brexit – Bloomberg Don’t expect post-Brexit Britain to match EU’s fight against big tech – The Guardian Why would anyone trust Brexit Britain again? – CNN Medical devices industry tests UK plans for post-Brexit divergence – Financial Times

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