regulation

5 months ago

Too little trust after Brexit for equivalence to work

by Nick Smith Why would you want to be the same as a competitor?  In any other walk of life – commerce, sport, romance, politics – we focus on differentiating ourselves.  While having parity can be helpful in some respects, what we do better than the other person is always more important. While the UK was always a competitor while inside the EU, there was a framework to that competition. …

5 months ago

The UK needs to focus on equivalence where it most matters

By Shayne Halfpenny-Ray Equivalence is an often discussed and at times overestimated outcome for the UK/EU negotiations, particularly in the space of financial services. Its not inevitable, its likely not to happen, and there are huge chunks of financial services unlikely either to be equivalent or have a mechanism to ever seek such a vaunted goal. I could of course end this killjoy blog here and move on to stamping…

5 months ago

The City is now asking whether equivalence is needed at all

By Tanisha Aggarwal With news that the UK and the EU have reached a deal on financial services co-operation, a pathway to future EU market access is now open for the City of London. However, the technical details do not include the UK Government’s coveted request for equivalence. The EU has indicated that this Memorandum of Understanding may open up the possibility of an equivalence agreement further down the line….