• 17 July 2019
    Measures to allow companies to transfer personal data between the EU and UK remain a priority in London's preparations for a no-deal Brexit, a minister said today, despite the European Commission showing no sign that it intends to act.

    The EU executive might soften its stance as the risk of a no-deal exit on Oct. 31 becomes more likely, Brexit Secretary Stephen Barclay told lawmakers.

    The UK has been pushing the EU since last summer to grant a data-adequacy decision in anticipation of a no-deal Brexit, without success. Such a decision would see the bloc recognize the UK’s privacy legislation as equivalent to the EU’s and permit companies to transmit personal data to the UK without additional controls.

    By Matthew Holehouse and Samantha Waigand

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  • 12 July 2019
    The US Commodity Futures Trading Commission sent a signal yesterday to France and Germany that a new EU post-Brexit clearinghouse law can still be shaped to satisfy regulators on both sides of the Atlantic.

    A CFTC proposal would defer oversight of foreign clearinghouses to the home country if these facilities do less than 20 percent of their business with American banks and companies.

    This plan, if finalized, would allow large clearinghouses such as France-based LCH SA and Germany-based Eurex to be supervised exclusively at home if the regulatory regimes are deemed comparable to that in the US.

    By Neil Roland and Brian Baker

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  • 10 July 2019
    Airlines risk facing new barriers to operate on routes to and from the UK as the government seeks to draw up post-Brexit air-transport agreements, the country's competition regulator has warned.

    The Competition and Markets Authority urged the government to be mindful of the impact on competition as it races to put in place new deals to keep planes flying. It warned the introduction of restrictive terms could result in poorer choice and higher prices for passengers.

    “We note the importance of airlines, businesses and passengers having confidence that particularly following the UK’s withdrawal from the EU, flights to and from the UK will continue without disruption,” the CMA said in a response to the UK government’s call for views on its long-term aviation strategy."

    By Matthew Holehouse.

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  • 23 May 2019
    UK lawmakers will prevent a no-deal Brexit, Prime Minister Theresa May insists. They aren't so sure.

    Members of the UK Parliament that are behind legislation to force an extension to the Article 50 process fear their luck has run out, and they may have no mechanisms by which to halt a slide over the cliff edge in October.

    Last month, Parliament passed primary legislation compelling the UK to request an extension of the UK’s membership.

    By Matthew Holehouse.

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  • 21 May 2019
    P&O Ferries will have to wait until next year to persuade a judge that the UK government must pay it tens of millions of pounds compensation for officials' botched handling of contingency plans for a no-deal Brexit.

    The ferry operator was today given a 2020 court date for it to press its suit that 33 million pounds ($43 million) in compensation awarded to Eurotunnel in a settlement earlier this year will give its rival a competitive advantage.

    P&O argues that the award breached procurement law, constitutes illegal state aid and violates EU competition law as an unlawful interference in the market. It is asking for the settlement to be quashed or that it in turn be paid 10.9 million pounds in compensation for each year that the three-year Eurotunnel settlement runs.

    By Matthew Holehouse.

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