Lords EU Committee to take evidence on post-Brexit contractual continuity
How will contractual continuity pose a problem for the financial services sector post-Brexit? When does a solution need to be reached by to avoid problems? The creation of the euro involved the repapering of a vast number of contracts; are there lessons to be learned from this experience?
These are among the questions the House of Lords EU Financial Affairs Sub-Committee will be raising at 10.30am on Wednesday 16 May 2018 with the following witnesses:
- Professor Hugh Beale, University of Warwick
- Christopher Bates, Clifford Chance
- Simon Firth, Linklaters
Other questions the Committee is also likely to ask include:
- What are the main kinds of cases in which the problems will occur?
- Can firms service contracts if they no longer have an entity authorised in the Member State in which they provide services?
- Are firms beginning to have conversations with their clients about the risks involved in continuing to service contracts or are they waiting for the UK and EU authorities to reach agreement?
- Can the UK or EU take unilateral action to deal with the problem?
This evidence session will take place from 10.30am on Wednesday 16 May in Committee Room 4A of the House of Lords.
