Dechert is ‘the go-to firm’ in this space offering ‘cutting-edge and innovative advice’ on Brexit issues – Ranked Tier 1 Risk Advisory: Brexit, The Legal 500 UK 2017.
Lawyers in Dechert’s International Trade and EU Law practice bring a unique perspective to the legal and commercial analysis surrounding Brexit, having significant background and knowledge of the EU and the UK’s engagement with it. Our team members’ experience includes working on legal and policy issues for the European Commission, negotiating on behalf of Member States in the Council, and serving in various roles within the UK Government, including HM Treasury and the Prime Minister’s Office.
We are working with a range of industry bodies and businesses to develop their positions, to translate their priorities into an advocacy strategy and to plan ahead for the different potential outcomes to be faced on 29 March 2019.
Exactly what effects could Brexit have?
Dechert’s sectoral experts work closely alongside our International Trade, EU Law and Government Regulation team to map out the impact the Brexit may have on any given sector and business and advise on the trade and regulatory consequences.
Our lawyers have also authored updates on:
– Asset Management
– Competition Law
– Data Protection
– Employment Law
– Financial Services
– Imports and Exports
– Intellectual Property
– International Arbitration and Litigation
– Legal Framework
– Trade Agreements
What should I be doing now?
The majority of businesses operating with or in the UK should have already begun:
Reviewing and identifying aspects of the business that rely on, or assume the applicability of, pan-EU arrangements such as EU rules of origin and customs procedures, passporting for financial services, EU-wide medicine licenses, etc.
Understanding the actual (or likely) position of the UK, the EU Governments and EU institutions on the contents of the exit agreement, as well as the ambitions for the future UK-EU trading relationship.
Establishing what the UK’s baseline obligations in the WTO and other international bodies means for your business.
Identifying EU laws which currently impact both your operations and that of your wider industry.
Identifying the nature and extent of interaction with pan-EU agencies.
Considering a government relations strategy (whether directly or through an industry group). Identify key proposals or considerations. Make these reasoned, evidence-based, granular and ambitious, while taking account of political realities. Respond to government consultations.
Considering the impact on your supply chains and customer base.
Looking at the nuts and bolts of your business including your data protection obligations; contractual terms; employment rights; intellectual property plans; and ongoing litigation.
How Dechert can help
We have already helped industry bodies, companies and governments to develop their positions; to define clear priorities, red lines and concrete bespoke proposals; to translate this into an advocacy strategy that best fits their needs; and to plan for the different potential outcomes to be faced on 30 March 2019.
Our team’s previous experience, not only in the UK government and European institutions, but in the products and advocacy we have undertaken since the Brexit vote, offers clear benefits for Dechert’s clients and has ensured that many are now in a strong position whatever shape the Brexit negotiations will take in the future. When necessary the team can also call upon both local and internationally-based sectoral experts across Dechert to identify potential steps during the forthcoming negotiations that may help to minimize any risks associated with Brexit while also maximizing opportunities for clients. Three particular areas we recommend:
Conduct rigorous gap-analysis: based on an understanding of the likely Brexit options, identifying in detail the issues that businesses will face, where further research is required and where the key risks and opportunities lie.
Define priorities and red lines: the objectives should be ambitious while taking account of political realities, based on rigorous analysis and hard data that will stand up to scrutiny.
Design and implement an effective engagement strategy: development policy papers and detailed draft treaty language for use with decision-makers in the UK and EU governments and institutions.
Dechert has a team ideally placed to help, with offices in London, Brussels, Dublin, Frankfurt, Munich, Luxembourg and Paris. In addition to deep UK and EU legal expertise, our team has practical and policy experience – including of trade negotiations – developed at the European Commission, the Council and a range of UK bodies including the Prime Minister’s Office, the Cabinet Office, the Bank of England, HM Treasury, the Foreign Office, and the Attorney-General’s Office.
In addition to the deep expertise offered by our lawyers, Dechert also collaborates closely with leading firms of accountants, providing you with an evaluation not only of the legal implications for you and your sector, but also the economic implications. This combined approach can often assist with understanding the relative importance of risks identified. We would be pleased to arrange such a collaborative approach for you, and to recommend accountancy firms who with whom we have successfully collaborated previously.