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Equivalence and market access in a post-Brexit world
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At the end of March 2021, the UK and EU agreed a Memorandum of Understanding which provides a framework for ongoing regulatory co-operation and dialogue on financial services in the post-Brexit environment. However, it does not significantly alter the new reality for firms doing cross-border business between the UK and EU, where UK firms face a patchwork of national regimes for market access into the EU, coupled with a limited set of equivalence determinations.
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