The UK left the EU on 31 January 2020, and the Brexit transition period ended on 31 December 2020. The UK “onshored” EU legislation that was in force at the end of the transition period, making adjustments so that the legislation would operative effectively on a UK-only basis.
The UK government has set out plans to repeal and restate onshored EU legislation in UK legislation and regulatory rules. This will afford an opportunity for the UK to review and make policy changes to the current regulatory framework, which will likely lead to divergence in various areas.
Listen below to FCA’s Stephen Hanks as he discusses onshoring and how to ensure regulatory compliance, part of our Connected With Latham podcast series.