Brexit Transition Deal Doesn't Remove Legal Risks For City

Bart Van Vooren is quoted in a Law360 article regarding the draft treaty signed by European Union leaders to move forward Brexit negotiations, including a 21-month transition deal. As a matter of international law, EU law will apply “in and to” the UK up to and during the transition period, says Van Vooren. But, he adds, “this is not the same as ‘equating’ the UK to a member state.” Van Vooren points out that there is one exception under the agreement, in that if a draft EU act identifies member states or national authorities, the UK will be consulted to make sure it can implement the law properly. He also predicts, “Preparations with a hard Brexit in mind are ongoing in a very intensive way, and some contingency plans may still be triggered rather soon.”