rblog

Brexit might mean 'brexit' - but what does it mean to lawyers?

By Debra Malpass on 26 September 2016

Managing constitutional change is not something you have had to deal with too often, if at all. 

But managing uncertain outcomes and identifying opportunities are things many of us are all too familiar with. We know the result of the EU referendum has left many of you working in legal services uncertain about the potential consequences of the UK exiting the EU. In this year’s Risk Outlook we explained we would begin to analyse the consequences of the UK exiting the EU and report back. 

We have now published our report Exiting the EU: an update for lawyers. It is the first in a series of Risk Outlook updates and activities we will undertake to inform the profession of the latest news and help it prepare for any changes. 

Exiting the EU: Key messages 

It is too early to assess the potential consequences until we know the nature of any new relationship between the UK and EU. But the report sets out the following key points: 

  • There has not been any need to change to our regulatory framework as a result of the EU referendum as yet.
  • We are discussing the future with Government and other regulators both here and abroad.
  • Issues that we are considering include practising rights, data protection and the future of the UK as a gateway to continental Europe.
  • We will continue to reform our regulation. Modern and proportionate regulation is essential for the vibrant and competitive domestic and international legal market of the future.

Planning for the future 

Our report provides a checklist of issues for law firms to consider as they plan for the future. This includes the importance of keeping colleagues up to date and how clients can help shape a response to change. 

Keeping up to date 

To find our more, please read Exiting the EU: an update for lawyers. For the latest updates take a look at our Brexit hot topic.

Debra Malpass