News

07/03/2019

Financial contingency measures in view of the withdrawal of the United Kingdom from the European Union

On 2 March 2019, Royal Decree-Law 5/2019 of 1 March adopting contingency measures in different areas in view of the withdrawal of the United Kingdom of Great Britain and Northern Ireland and the Colony of Gibraltar from the European Union was published in the Official State Gazette, without the agreement provided for in Article 50.(2) of the Treaty on European Union having been reached.

In the area of provision of financial services, the Royal Decree-Law establishes a transitional regime for authorised entities registered and domiciled in the United Kingdom or Gibraltar in order for them to be able to continue providing financial services in Spain, with certain limitations, during the nine months following a potential no-deal Brexit.

For more information, please follow the link.

For further information, please contact:

Pilar Igartua
Uría Menéndez Madrid
Tel: +34 91 586 03 72
E-mail: pilar.igartua@uria.com