Deborah Newberry – Head of Public Affairs Navigating Brexit Deborah Newberry – Head of Public Affairs

1. Brexit: How Did We Get Here?

Brexit: How Did We Get Here? Two-year countdown begins: Where is the process now? The role of the UK in negotiations The role of EU27 in negotiations Key dates for 2017/18 Kennedys Law LLP

How did we get here? Kennedys Law LLP The Conservative Party has consistently grappled with its stance on Europe, leading to the EU referendum (2016). Kennedys Law LLP

The role of the UK in negotiations David Davis ? Secretary of State, DExEU “We don’t need to just look like we can walk away, we need to be able to walk away.” Theresa May Prime Minister “No deal for Britain is better than a bad deal for Britain.” Sir Tim Barrow UK Permanent Representative to the EU “The truth is, nobody has done this sort of negotiation before.” Oliver Robbins Permanent Secretary, DExEU “Much of the work we are doing at the moment is to make sure we are prepared.”

The role of EU27 in negotiations Michel Barnier European Chief Negotiator for Brexit “If you like walking in the mountains you have to learn a number of rules. You have to learn to put one foot in front of the other, because sometimes you are on a steep and rocky path. You also have to look what accidents might befall you – falling rocks.” Lead Brexit Negotiator for the European Parliament Guy Verhofstadt “We can never, never create a state for the British or any other country outside the EU which is more favourable than being inside the EU.” Donald Tusk President of the European Council "We need to remain united as EU-27. It is only then that we will be able to conclude the negotiations, which means that our unity is also in the UK's interest." Didier Seeuws Head of EU negotiators “Brexit taskforce” “He [Seeuws] understands the task will be very difficult, but he will certainly try to get a good compromise.” Kennedys Law LLP

The role of EU27 in negotiations Kennedys Law LLP

Soft Brexit vs Hard Brexit “BEST BREXIT” “HARD BREXIT” Access to the single market No tariffs on trade “Passporting” Payments to EU programs EFTA Court European Court of Justice “Four freedoms” No single market access No customs union Full control over UK borders Full control over trade deals WTO terms if no trade deal agreed Short transitional period

Is no deal better than a bad deal?

Is no deal better than a bad deal? “But we can never, never create a state for the British or any other country outside the EU which is more favourable than being inside the EU. Otherwise there’s no point to the EU. There must be an advantage to being a member of the EU and that’s the foundation of the mandate for the negotiations for the commission and the EU Parliament.” “There were 48 per cent who voted against Brexit and of those who voted for Brexit, the other 52 per cent, they did not all vote for a hard Brexit, for a brutal exit. We must find another balance with the British, I think we will arrive at it.”

Key dates for 2017/18 22 May 2017 EU27 approves negotiation directives 8 June 2017 UK general election 19 June 2017 Queen’s speech and State Opening of Parliament 7 July 2017 Inauguration of Estonian Presidency 24 September 2017 German federal elections 13-15 October 2017 IMF Annual meeting 19-20 October 2017 European Council Summit 14-15 December 2017 European Council Summit 6 November 2018 US midterm elections March 2019 Deadline for UK to complete Brexit

2. Business Impacts

Business Impacts Business concerns and pressures Financial services concerns Insurance concerns What are the Brexit opportunities? Kennedys’ response Kennedys Law LLP

Business concerns & pressure Business Concerns and Pressures DATA SECURITY GOVERNANCE Business concerns & pressure SKILLS FUTURE TRADE DEAL MARKET ACCESS EQUIVALENCE TALENT STATE OF THE UNION CYBER-SECURITY DIGITISATION

Developing Financial Services Concerns FS: CHANGING CONCERNS PRE-BREXIT BREXIT NOW ACCESS TO TALENT CONSISTENT GLOBAL STANDARDS REGULATORY AGENCY COOPERATION STAFF RELOCATION CROSS-BORDER MARKET ACCESS REGULATORY BURDEN PASSPORTING MIGRATION TARGET: “TENS OF THOUSANDS”

Insurance Concerns

Changing value in the pound New approach to government spending What are the Brexit opportunities? Changing value in the pound New sectors arising New approach to government spending Trade deals

What is Kennedys doing?