EU Brexit Preparedness Notices
In parallel to the efforts being undertaken by individual Member States, including Ireland, the European Commission has established a dedicated Brexit Preparedness Unit. This Unit is issuing Brexit Preparedness Notices on an ongoing basis to stakeholders and economic operators across a range of different sectors.
It is important to note that these notices address a baseline scenario whereby the UK would leave the EU on 30 March 2019 without a deal on a transitional period having been agreed (i.e. a no deal, disorderly Brexit scenario). In this regard, it should be borne in mind that a transition period, extending to 31 December 2020 and based on the status quo, is currently the subject of negotiations between the EU and the UK within the context of the withdrawal process. Should this be agreed, many of the elements reflected in these notices will only become relevant at the end of the transition period.
Notices have been issued in respect of asset management, banking and payment services, insurance/reinsurance, as well for a range of other areas. A list of the notices published to date are available in the document below and the notices are available to view on the Commission’s website at the following link: European Commission Brexit Preparedness