European Parliament, or EP, published a briefing that offers insight into the latest regulatory developments on equivalence in EU banking and financial regulation, including elements of the ongoing ESA review, the Investment Firm Review, and the European Market Infrastructure Regulation (EMIR) 2.2, which are being discussed at the European Parliament and the Council. The briefing also gives an overview of the possible role of equivalence regimes in the context of Brexit, both in the context of a “no-deal” scenario and as part of an agreement.
This briefing is an updated version of a briefing published in April 2018. It details the proposed changes to the existing equivalence regimes. EC has recently proposed regulatory changes to enhance some EU equivalence regimes: in September 2017, as part of the ESA review; in December 2017, as part of the Investment Firm review; and, in June 2017, in relation to a review of EMIR. The proposals are being discussed at the European Parliament and Council.
Related Link: EP Briefing (PDF)
Keywords: Europe, EU, Banking, Securities, Insurance, PMI, Third Country, Equivalence Regime, Passporting, Brexit, European Parliament