COMMUNICATION FROM THE COMMISSION Equivalence in the area of financial services

1. The communication takes stock of the EU’s existing equivalence regime, which is their primary tool for cross-border access for financial services. Equivalence is an acknowledgement from the EU that, in a particular area of Financial Services, the regulatory framework of a third country (i.e. non-EEA) is equivalent to that of the EU. Positive equivalence decisions often provide improved prudential treatment for relevant third countries. In some areas, they can also support the provision of cross-border services and products.

2. The communication sets out the purpose of the EU’s equivalence regime is to support the integrity of EU markets as a risk management tool, explains the key components of the Commission’s decision-making process (assessment, review, monitoring and withdrawal), and presents recent decisions and outlines key priorities for the next year.

Topic  Financial Services 
Department  HMT 
Council Reference  11595/19 
COM Reference  COM(19)349 
SEC Reference   
PE Cons   
C Reference   

Associated file(s)

  1. 11595/19 - 488 KB - pdf
  2. 11595/19 Add 1 - 400 KB - pdf
  3. 24 April 2020 Glen - Cash - 94 KB - pdf
  4. 27 January 2020 Glen - Kinnoull - 540 KB - pdf
  5. 31 October 2019 Glen - Cash - 351 KB - pdf
  6. EM 11595/19 - 137 KB - pdf

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