Guidance. Financial services legislation under the EU (Withdrawal) Act

Author (Corporate)
Series Title
Series Details June 2018 (and periodically updated)
Publication Date 27/06/2018
Content Type

This publication from HM Treasury, and first published in June 2018, set out the UK government’s approach to bringing EU financial services legislation into domestic law under the EU (Withdrawal) Act.

Over the forthcoming weeks HM Treasury would publish related draft secondary legislation which would be added to this link.


The European Union (Withdrawal) Act 2018, given Royal Assent on 26 June 2018, repealed the European Communities Act 1972 and made other provision in connection with the withdrawal of the United Kingdom from the EU.

Now that the Act had become law, the Government could start to use the powers in the Act to prepare the statute book for exit from the EU. Work on this would begin in the coming weeks as Departments started to lay the relevant secondary legislation in Parliament.

This marked the next essential step in ensuring that the UK was ready for life after the UK had left the European Union.

In total, it was expected that around 800 pieces of secondary legislation would be needed. As part of the first tranche to be laid, the Government would use powers in the Bill to repeal the European Union Act 2011 as agreed by Parliament.

Alongside this programme of secondary legislation, Departments were delivering on a further package of Bills which would deliver the more significant policy changes needed as a result of exit from the EU.

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Related Links
UK: Bank of England: News, 27.06.18: Bank of England’s approach to financial services legislation under the European Union (Withdrawal) Act
ESO: Find further information sources in ESO relating to Brexit and financial services
ESO: In Focus: Brexit - The United Kingdom and the European Union
UK: GOV.UK: HM Treasury: Guidance: Financial services legislation under the EU (Withdrawal) Act
UK: GOV.UK: HM Treasury: Collection: Financial services legislation under the EU (Withdrawal) Act 2018 (first published 09.08.18 and periodically updated)

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