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UK Votes to Leave the EU

June 24, 2016, Covington Alert

The UK has voted to leave the European Union in an advisory referendum. 52% leave - 48% remain.

Were the UK to leave the EU, this would have significant implications for the UK and for international businesses operating in the UK. The longer term impact of the decision on the regulatory framework for the UK will depend, in part, on the relationship that the UK seeks with the EU in the future. That will not become clear for some time as it will likely take at least two years for the UK to negotiate an exit from the EU.

Covington has formed a Brexit Task Force staffed by senior lawyers and advisors linking its offices in London, Brussels and Washington to monitor events and to keep clients apprised of legal, regulatory and policy developments. We will send you regular updates over the coming days and beyond to explain what this result means for your business operations in Europe and/or your trading relationships with the UK.

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