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The Duke and Duchess of Sussex announce they are stepping back

The Duke and Duchess of Sussex have announced that they are stepping back from Royal duties in their position as senior members of the Royal Family. They plan on splitting their time between North America and the U.K. moving forward to give them more balance and freedom to carve out a new "progressive role" within the institution.
Meghan and Harry also shared in the announcement that they plan on becoming "financially independent" while supporting her Majesty the Queen. They shared that this transition will take place over the next year and it will allow them to raise their family with an appreciation for the Royal institution while providing them with space to focus on the next chapter of their lives.
The announcement came a day after the pair made their first public appearance of 2020 following an eight week break. Meghan and Harry had been staying in Canada with Archie and they visited Canada House to thank the staff there for the warm hospitality they received during their stay.

Their announcement also came with updates on the couples media policy and on the funding they will receive that can found on their website. Essentially, they have announced they will become financially independent and no longer be funded by the sovereign grant. They also indicated in their media policy that they will no longer participate in the royal rota and instead focus on grassroots media organizations and up-and-coming journalists. These changes will only be applicable to the Duke and Duchess of Sussex.
Buckingham Palace issued a statement following Meghan and Harry's announcement that these discussions were still in the early stages. The Palace acknowledged that they understood their desire for a different approach but that this would take time to work through logistically.

It is not clear exactly what this announcement will look like in practical terms (how much time they will be in the U.K. vs North America, in what form they will continue to support their charities or how often we will see them moving forward) but they did mention in their statement that they will make further announcements about it in the near future. The Duke and Duchess of Sussex also confirmed that their new charitable foundation will launch sometime in 2020. Over the coming days, weeks and months there will likely be more developments on this announcement from both the Sussex's and the rest of the Royal Family. xx
**As a lot of opinions & non-factual information is circulating about this announcement, I will keep this post updated as often as I can with the most accurate information available.**