On June 23rd, 2016, the United Kingdom decided, after a referendum, to leave the European Union. This exit will not be effective for a few months, or even a few years, and it will not necessarily mean that the United Kingdom will be completely cut off from the European apparatus. It could for instance join the European Free Trade Association (“EFTA”) (which consists of Iceland, Liechtenstein, Norway and Switzerland) and thereby become part of the European Economic Area (“EEA”), or negotiate a free trade agreement like the ones already existing between the European Union and numerous third party states.
Whatever the shape or form of the new relationship between the United Kingdom and the European Union may be, the Brexit will have numerous legal implications which are still difficult to assess. In this context of uncertainty, investors, financial institutions and companies which have developed business activities in the United Kingdom will have to anticipate the changes to come and to adapt to the new legal and regulatory framework which will gradually be implemented.
A dedicated team
To assist its clients during this transition phase, Franklin has put together a multidisciplinary team of expert lawyers in the legal fields which will most likely be affected by the Brexit:
- Financial and banking law
- Competition – Distribution
- Data protection
- Employment law
- Tax law
- Contract law
- Real estate law
For any queries related to the Brexit and its potential consequences on your business, you can send an email to email@example.com or liaise with your usual contact at Franklin law firm.