There have been a few more articles relating to Brexit, as seem from the energy and commodity trading world since our last post on the topic (see here).
On the financial side, Simon Lovegrove of Norton Rose Fulbright has published this analysis on the temporary permissions regime drafted by the FCA for the eventuality of a “hard Brexit”. This article on the Financial News website reports that the UK’s HM Treasury is now asking for advice on Brexit from financial institutions. Kay Swinburne (MEP and Vice-Chair of the European Parliament’s Economic and Monetary Affairs Committee) has published this article arguing for the EU 27 to push ahead with the Capital Markets Union after Brexit.
ISDA and the AFME have published this paper on contractual continuity after Brexit (that is, the ability for existing, or “legacy” contracts to be able to be applied with certainty in the context of changed permissions and other changes). The Financial Markets Law Committee has also published this paper looking at the continuity and other issues. It concludes that while existing contracts are unlikely to experience issues all possibilities are considered.
On the energy side the University of Warwick has published this report by Professor Michael Shaw of the university’s UK Energy Research Centre. The report looks at the issues that the UK could face after Brexit, with respect to security of supply, operation of and investment in inter connectors and other issues. This article on the Oil and Gas Journal web site summarises the paper.