UK Finance has published the results of a study it has carried out in relation to UK Sanctions statutory instruments, as they will look at the end of the transition period, to assess what differences there will be from the current regime, and to look for potential unintended consequences and provide an impact assessment for each. It has looked at:
- areas where existing EU derived sanctions drop away and are not carried through by UK instruments;
- areas where a UK autonomous SI brings in new requirements not present in the equivalent EU-derived SI;
- areas where the spirit of the requirement remains, but new wording creates a different meaning or obligation; and
- UK autonomous SIs that cause inconsistency in interpretation within the overall UK framework.