UK: Parliament approval not necessary to invoke Article 50 - BBH

Research Team at BBH, suggests that an issue that investors will be mulling is a UK press report at the end of last week suggesting that government lawyers do not think Parliament approval is necessary to invoke Article 50, which formally begins the negotiations for separation.  

Key Quotes

“Many observers are still skeptical that it Article 50 will be triggered next year.  However, nearly all the indications we see is for it to invoked next spring.  Our understanding is that this is what has been broadly indicated to EU officials. 

One of the domestic issues has been over the authority to invoke Article 50.  A majority of Parliament favored remaining in the EU.  Having to secure its approval was one of the considerations that made some skeptical that it would be triggered.  There is bound to be a push back from Parliament, whose legal advice will no doubt favor its role.”