Thats neither factually nor theoretically correct, as all the EU laws apply until the transition period has expired, which I wouldn't be surprised will be extended given corona has taken so much focus and time away from it.
Officially they are no longer part of the EU. They have agreed to abide by the rules of the EU for now, and the EU has agreed to allow them to trade as though they were part of the EU, but they officially left on Jan 31.