Britain should seek 'equivalence' based market access to the European ...
FILE PHOTO: European Union and British flags flutter in front of a chancellery ahead of a visit of British Prime Minister Theresa May in Berlin, Germany, April 9, 2019. REUTERS/Hannibal Hanschke
Equivalence refers to the EU granting market access for a foreign financial firm if it determines that the firm’s home rules are equivalent, or aligned closely enough, to regulation in the bloc. Britain and the United States signed an agreement on insurance and reinsurance last year, to make cross-border business easier after Brexit.
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