Deal Diary

Election and Impeachment

The presidential race will garner much of the attention during the 2020 election cycle, but there is fierce competition elsewhere, too. Republicans and Democrats are fighting for both U.S. House of Representatives and U.S. Senate seats in the 116th U.S. Congress, with the Republican Party trying to regain House majority. Meanwhile, impeachment proceedings against President Donald Trump are shaping up to be a potential game changer for certain members of the Senate who are running for president. They’ll lose valuable time on the campaign trail while serving as jurors for the duration of the impeachment trial.

Strategic planning should continue to be a high priority for corporate boards in 2019. Boards should consider the individual and combined impacts of the U.S. and global economies, geopolitical and regulatory uncertainties and mergers and acquisitions activity on their industries and companies.

Corporate Culture

The corporate culture of a company starts at the top, with the board of directors, and directors should be attuned not only to the company’s business, but also to its people and values across the company. Ongoing and thoughtful efforts to understand the company’s culture and address any issues will help the board prepare for possible crises, reduce potential liability and facilitate appropriate responses internally and externally.

The Court of Justice of the European Union’s (CJEU) Advocate General provided an advisory opinion that Article 50 of the Treaty on European Union allows for the unilateral revocation by the United Kingdom of its Article 50 withdrawal notification, provided certain conditions are met. The CJEU is expected to confirm this view in a formal judgment before the U.K. House of Commons is scheduled to vote on the Withdrawal Agreement on December 11, 2018, raising the prospect of the U.K. Parliament voting to revoke its intention to leave the European Union. 

Please click here to read Akin Gump’s alert on what this means for the future of Brexit.

Political changes: Monitor the impact of major political changes, including the U.S. presidential and congressional elections and Brexit

The results of the U.S. presidential election are historic and unanticipated, and they will have significant economic, political, legal and social implications. As the nation prepares for the Trump administration, many uncertainties remain about how the incoming administration will govern. President-elect Trump has stated that he will pursue vast changes in diverse regulatory sectors, including international trade, health care, energy and the environment. These changes are likely to reshape the legal landscape in which companies must conduct their business, both in the United States and abroad.

Akin Gump launched its Beyond Brexit as an immediate response to the result of the EU Referendum.  The blog serves as a knowledge hub, providing resources and information on the regulatory and policy impact of Brexit.