HM Treasury equivalence and exemption determinations
Information related to the UK바카라 사이트檚 framework for equivalence and exemption determinations in financial services.
Following the UK바카라 사이트檚 departure from the EU, and the end of the transition period, the UK has inherited the EU바카라 사이트檚 equivalence framework under the EU (Withdrawal) Act 2018. Some EU financial services legislation enables the European Commission to determine that, in specified areas of financial services activity, a third country바카라 사이트檚 regulatory and supervisory regime is equivalent to the EU바카라 사이트檚 corresponding regime. Equivalence determinations can help to reduce or eliminate overlaps in regulatory and supervisory requirements, and can provide firms with improved prudential treatment. In some areas, equivalence determinations can also facilitate the cross-border exchange of services and products.
Under this legislation, HM Treasury is responsible for making equivalence and exemption determinations. The Financial Conduct Authority, Bank of England and the Prudential Regulation Authority are able to provide information or advice in support of HM Treasury바카라 사이트檚 equivalence and exemption assessments.
This page provides further information on the operation of the UK바카라 사이트檚 equivalence framework.
The (S.I. 2019/541) provides powers for HM Treasury to make equivalence directions and exemption directions for the EU and EEA member states.
Information documents related to the UK바카라 사이트檚 equivalence framework
Updates to this page
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Exemption Order under Section 38 of the Financial Services and Markets Act 2000 in respect of Norges Bank is now in force added
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Updated with: Share trading obligation equivalence decision for Switzerland now in force.
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Added new documents: 'Guidance Document for the UK바카라 사이트檚 Equivalence Framework for Financial Services' and 'HM Treasury equivalence decisions for the EEA States 바카라 사이트� 9 November 2020'.
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Equivalence directions link added.
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First published.