Brexit: Are You Prepared? Four Weeks to Go
May 23, 2016
In four weeks Britain will go to the polls for the EU referendum to decide on whether or not the country should continue to form part of the European Union. In this briefing, Dechert looks at how this situation arose, what happens when the result of the referendum is known and what you should be doing now to ensure you are in the best possible position on 24 June.
Planning Ahead: Key Questions to Consider
As the referendum approaches, all companies that operate in or do business with the UK should be asking themselves some questions:
- Have we identified the key potential changes relevant to our business? Will those changes be an opportunity for us or a risk (or both)?
- Will those changes equally affect our competitors?
- Are there any steps we could or should be taking in advance (or immediately after a vote) to mitigate adverse impacts?
- If the result is for the UK to leave the EU, will we be able to reassure our investors that we have considered and taken measures to best prepare for any anticipated risks? How will the legal and economic uncertainty of the negotiation period impact us?
- If the vote is for the UK to leave the EU, what should the UK’s and EU’s priorities be in the negotiation of UK/EU future relations for our sector? Are there particular EU laws that we will want the UK to retain or replace?
- Do we rely on any EU free trade agreements with third countries, and how would we be affected if the UK ceased to benefit from them?