Coordinated Response to Brexit-related Secondary Legislation

HM Treasury has announced it will publish a significant volume of secondary legislation under the European Union (Withdrawal) Act 2018 in relation to the financial services. As the end of the Article 50 notice period rapidly approaches, the timeline for any comment or consultation on these drafts is likely to be compressed.

To facilitate a quick response to such secondary legislation, the Secretariat organised a meeting amongst leading organisations in the City to discuss a coordinated response. Present were representatives from the Brexit Law Committee, the legal wing of the IRSG, the CLLS Financial and Regulatory Law Committees and the Law Society.

It was agreed that reasonable efforts would be made toward coordination and that a second meeting to discuss a more detailed approach would be held in late July.  A note for record of the meeting is available here. Further updates arising from any coordination will also be published on that page.