Perspectives on the Regulatory Framework for Commercial Transactions in the UK and in the EU Pre and Post Brexit

Renaudin, Muriel ORCID: https://orcid.org/0000-0003-4295-1958 2025. Perspectives on the Regulatory Framework for Commercial Transactions in the UK and in the EU Pre and Post Brexit. Guinchard, Emmanuel and Panara, Carlo, eds. The New Relationship between the United Kingdom and the European Union, Vol. 1. Springer,

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Abstract

This chapter discusses some of the implications of Brexit for the law governing commercial transactions in the United Kingdom (UK) and in the European Union (EU) and, whether it might be possible to foresee a trend regarding its future trajectory. Although the current legal framework underpinning commercial transactions in the UK and in the EU is national in nature and thus largely unaffected by Brexit, the future shape of the regulatory EU-UK landscape remains unclear. There are considerable regulatory opportunities, but also challenges for legislatures on both sides. The EU without the UK sees an opportunity to pursue deeper economic integration, thanks to the proposal for a European Business Code. Such endeavour, it is argued, would contribute to the achievement of the Single Market, increase the accessibility and competitivity of EU commercial law rules and push further towards the symbolic goal of European integration. The UK outside the EU, on the other hand has lost access to the EU Single Market and Custom Union but regained its freedom to regulate (national parliamentary sovereignty). As such, Brexit may create opportunities for the UK to rethink some of its commercial law rules and to innovate in new legal areas. Whilst this chapter acknowledges clear motivations on both sides to innovate and reform the law governing commercial transactions (which may eventually lead to legal divergences between the two blocs), it argues that there are significant limitations stemming from external pressures such as supra national regulations which may restrict the pursuit of their respective commercial regulatory agendas and which may hinder the prospect of significant future regulatory divergences.

Item Type:	Book Section
Date Type:	Publication
Status:	In Press
Schools:	Law
Subjects:	K Law > K Law (General) K Law > KZ Law of Nations
Publisher:	Springer
ISBN:	978-3-031-70651-6
Last Modified:	21 Jan 2025 12:15
URI:	https://orca.cardiff.ac.uk/id/eprint/174638

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