‘Breality Check'—Brexit Update And Third Country Passporting Implications

While the swirl of day-by-day posturing, partisan commentary, and reluctance of the UK and EU authorities to reveal their negotiating hands make it challenging to discern probable routes forward and plan accordingly, there is no reason why even a "hard Brexit" cannot encompass access to the single market for financial services companies.

It is just over 130 days since Britain voted to leave the European Union, and on 3 November the UK government lost the first round in its battle with the courts for the right to quit the EU without Parliament's consent. In this LawFlash, we bring our readers up to date on Brexit generally and explore how the established EU concept of third country passporting for financial services firms could mitigate the adverse effects of any exit from the EU single market for London as a leading world financial centre.