On October 11, UK Finance published a Brexit quick brief on equivalence in a future EU-UK trade framework for financial services (“BQB12“). This was developed in collaboration with Clifford Chance LLP and Global Counsel LLP.

The Brexit quick brief analyses the EU’s use of equivalence in financial services. Potential problems arising from the current equivalence regimes in the context of the UK’s relationship with the EU following Brexit were highlighted. The Brexit quick brief also summarizes potential reforms to equivalence proposed at an EU level. The Brexit quick brief also analyses the UK government’s initial proposals for a future trading relationship with the EU in financial services, which contemplated an enhanced form of the EU’s equivalence regime. READ MORE →