The European Commission has been warning stakeholders in various sectors about what may happen in March 2019 if the UK becomes a “third country” – as it will unless “a ratified withdrawal agreement establishes another date”.
The Commission issued over 20 of these notices in January, and this week saw a fresh batch covering asset management; banking and payment services; credit rating agencies; financial instruments; insurance and reinsurance; post-trade financial service; statutory audit; type-approval of motor vehicles; EU waste law; and the use of the EU Ecolabel.
As the Commission says: “Preparing for the withdrawal is not just a matter for EU and national authorities, but also for private parties. In view of the considerable uncertainties, in particular concerning the content of a possible withdrawal agreement, all interested parties, and especially economic operators, are reminded of legal repercussions, which need to be considered when the United Kingdom becomes a third country."
The notifications are available on the Commission’s Brexit preparedness web pages.