The UK Parliament votes on Brexit - Tuesday 15 January 2018 - 7pm

Alice G

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MPs have voted to delay Brexit and extend Article 50 by a vote of 412 to 202. This will now be subject to the approval of the EU 27 and it is not yet known how long the extension might be. It might be short-term until June if May’s deal can pass on a third attempt next week or long-term, which will mean our participation in the European elections in May.
 
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Jaysen

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    FYI: The second Tory leadership debate will be taking place at 8pm on BBC One. I'll see if I can write up a few highlights (especially what we can expect for Brexit negotiations) tomorrow morning.
     

    Jaysen

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    There isn't much to report as it wasn't a very good debate. Too many talking at once and lots of posturing. Boris stayed fairly reserved, Gove was given a lot of talking time and Stewart (who was knocked out yesterday) was cut off quite often. Aside from Stewart, they're all keeping No Deal on the table, but I believe Sajid Javid is the only one who is serious about leaving on 31 October 2019. Jeremy Hunt came off the best IMHO.
     

    Jaysen

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    Michael Gove has just been eliminated from the race. After Sajid Javid's elimination this morning, it's now for party members to decide between Jeremy Hunt and Boris Johnson.
     

    Jaysen

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    Boris Johnson was just elected the new leader of the Conservative Party. He is now the UK's prime minister.
     

    Jaysen

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    Alice G

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    For those looking for a better understanding of the impact of Brexit on law firms, the Law Society is a good place to go to:

    https://www.thetimes.co.uk/article/no-deal-brexit-could-cost-lawyers-3-5bn-05xpd0fdr

    If you have access to the FT: Legal sector faces £3.5bn hit from no-deal Brexit, says Law Society https://www.ft.com/content/4ac3c7ee-b3c9-11e9-8cb2-799a3a8cf37b?shareType=nongift

    https://www.lawsociety.org.uk/polic...future-uk-eu-relationship-for-legal-services/
    I can do a write up of the FT article this evening in the same way we do piece for the Lawyer and Legal Week? It was really quite useful I think!
     

    Alice G

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    Hi everyone,

    Please see below my paraphrased write up of the Financial Times article! I hope you find it interesting :)

    Also worth noting that on my vacation scheme at Latham, they stated that they had registered the vast majority of their London-based lawyers in Ireland too in order to mitigate potential Brexit disruptions.

    ***********************************************************************************************************************************************************************************
    Financial Times: ‘Legal sector faces £3.5bn hit from no-deal Brexit, says Law Society’ (1st August 2019)


    The Law Society has warned that a no-deal Brexit would cut £3.5bn from the legal sector and put 10,000 jobs at risk in the UK. The professional body is imploring the UK to negotiate crucial rights for practising lawyers to protect the profession and clients after the UK's departure from the EU.

    The UK legal sector contributed £27.9bn to the economy in 2018 and the UK is Europe’s largest exporter of legal services.

    The fear is that a disorderly Brexit would inhibit UK lawyers from accessing the European legal market which, in turn, would prevent them from advising European clients on EU matters of law and from appearing in European courts. There would also be a threat to lawyer-client confidentiality in the EU under legal professional privilege.

    The Law Society has approached the government pleading that they extend these rights in the form of a negotiated agreement to allow UK lawyers their continued access to the European market. The body wants the duplication of the Lawyers’ Directives in the UK and the EU which would enable Welsh and English qualified lawyers to continue their practice within Europe.

    The EU has similar agreements with Norway, Iceland and Switzerland at present.

    Law firms have been reasonably vigilant and mindful of the threats of a disorderly Brexit by registering their lawyers in Ireland to protect client confidentiality and retain professional privilege. Law firms such as Pinsent Masons, Clyde & Co and Fieldfisher have all opened Dublin offices since the referendum vote and more are expected to follow suit. Other firms have also been bulking out their presence in EU member states to try and minimize the risks associated with a no-deal.

    Law firms with a heavy IP or tech focus are likely to be even more vulnerable in an instance of no-deal because trademarks will no longer have EU-wide recognition post-Brexit.

    Fieldfisher has registered more than 20 London lawyers who focus on competition and trademark law to curtail these issues and they also started making plans for an opening in Frankfurt as a strategic financial market within a strong EU country.

    By mid-August of 2018, over 1,600 lawyers had signed up to the Irish Roll of solicitors compared to just 186 in the first 6 months of 2016. The Law Gazette reported that English and Welsh solicitors accounted for 14% of the Irish Roll by May of this year.
     

    Alice G

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    Junker is now stating that the there is no reason for an extension since a deal has been agreed, however, it is questionable whether the EU would realistically deny an extension if Johnson's deal is voted down on Saturday.
     

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