Recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence
Brexit poses unique challenges for policymakers in the EU as the most important financial centre in Europe is now outside its regulatory framework. We expect significant divergence over the medium- to long-term, given recent legislative and regulatory initiatives in the UK, but also developments of the regulatory framework in the EU. However, there seem to be limited concerns of an easing of the tax evasion and Anti-Money Laundering framework in the UK. We expect a limited use of the EU equivalence regime for the UK.
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Christy Ann PETIT, Assistant Professor, Dublin City University (DCU) and Deputy Director, DCU Brexit Institute. Thorsten BECK, Director, Florence School of Banking & Finance, European University Institute.
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