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As we have reported previously, the result of the European Union referendum (Brexit) was announced on 24 June 2016 with a vote in favour of the United Kingdom exiting.
We have issued a series of Brexit updates since the date of the referendum and those can be found here on the Brown Rudnick website. Our latest update comments on the Prime Minister’s recent speech in Florence, addressing a number of areas concerning the future relationship between the UK and the EU (as well as how any new relationship could be implemented). For more detail, please click here.
As has been the case since the date of the referendum, the main point to understand is that the referendum and the triggering of Article 50 do not produce any immediate legal consequences. For now, legally, nothing has changed. The UK is still a member of the EU having the same rights and obligations as before the referendum. This will not change until there is an actual departure from the EU, which is now set for 29 March 2019.
As before, it will still be some time before the terms of the UK's future relationship with the EU are determined. For now, uncertainty will continue to be the main theme for the foreseeable future until things are clearer in terms of the results of the relevant negotiations.
We will release a further update in due course.
Where we can assist
In the blur of mega firms, Brown Rudnick stands out as a “global boutique” and has in place a multi-disciplinary, international Brexit Team. We are monitoring and analysing the consequences and considerations for businesses and are ready to advise on the potential legal implications of Brexit.