About: Equivalence in financial services

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The principle of equivalence in financial services at the European Union (EU) level is one of the instruments the Commission has at its disposal to carry out its international strategy for financial services. The principle of equivalence is materialised through an equivalence decision issued by the European Commission to a targeted country that it judges fit to have access to the European Market in financial services. The decision is unilateral, non-reciprocal and affects the targeted third country in regard to particular activities or services to which the decision is intended. The equivalence decision is issued through an assessment of the third country regulations in relation to particular services or activities in the EU. In order to do so, the Commission bases its decision on 40 provi

Attributes	Values
rdfs:label	Equivalence in financial services (en)
rdfs:comment	The principle of equivalence in financial services at the European Union (EU) level is one of the instruments the Commission has at its disposal to carry out its international strategy for financial services. The principle of equivalence is materialised through an equivalence decision issued by the European Commission to a targeted country that it judges fit to have access to the European Market in financial services. The decision is unilateral, non-reciprocal and affects the targeted third country in regard to particular activities or services to which the decision is intended. The equivalence decision is issued through an assessment of the third country regulations in relation to particular services or activities in the EU. In order to do so, the Commission bases its decision on 40 provi (en)
dcterms:subject	European Union Finance Eurozone Economy of the European Union Euro Eurogroup
Wikipage page ID	63281039 (xsd:integer)
Wikipage revision ID	1107023700 (xsd:integer)
Link from a Wikipage to another Wikipage	Valdis Dombrovskis Capital requirements City of London Corporation Clearing (finance) European Union Alternative Investment Fund Managers Directive Payment Services Directive Finance Eurozone Economy of the European Union Alternative Investment Fund Managers Directive 2011 European Banking Authority European Commission European Economic Area European Free Trade Association European Insurance and Occupational Pensions Authority European Securities and Markets Authority European Single Market European Union Financial crisis of 2007–2008 Capital Markets Union Euro Eurogroup Global Financial Centres Index Counterparty LCH (clearing house) Economic and Monetary Union of the European Union Markets in Financial Instruments Directive 2004 Financial Services Action Plan Financial services European Market Infrastructure Regulation European System of Financial Supervision UCITS MiFID II CRD IV Ucits directive
Link from a Wikipage to an external page	https://ec.europa.eu/info/publications/insurance-dialogue-switzerland_en https://ec.europa.eu/info/sites/info/files/file_import/equivalence-table_en.pdf https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/us-and-eu-covered-agreement
sameAs	Equivalence in financial services Equivalence in financial services
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has abstract	The principle of equivalence in financial services at the European Union (EU) level is one of the instruments the Commission has at its disposal to carry out its international strategy for financial services. The principle of equivalence is materialised through an equivalence decision issued by the European Commission to a targeted country that it judges fit to have access to the European Market in financial services. The decision is unilateral, non-reciprocal and affects the targeted third country in regard to particular activities or services to which the decision is intended. The equivalence decision is issued through an assessment of the third country regulations in relation to particular services or activities in the EU. In order to do so, the Commission bases its decision on 40 provisions of EU law. Important to note, perhaps is the fact that not all have been availed but over 250 equivalence decisions were made targeting more than 30 countries worldwide. According to the European Commission, the aim of the equivalence decision is not to liberalise international trade in financial services, but a cross-border instrument to manage financial activity of market players in a way that respects standards of prudential rules as the EU does internationally. There is a recognition that equivalence has become a significant tool in the EU and one of the main powers of the Commission when it comes to financial services. In his speech, Valdis Dombrovskis, the Commissioner responsible for financial services, has highlighted the efficiency of the policy. In the occasion, he took the opportunity to talk about the new EU's comprehensive approach and legislative improvements for the granting of equivalence to third countries. In addition, it outlines the way the Commission and the European Supervisory Authorities monitor the situation in the countries to which an equivalence decision has been taken. (en)
prov:wasDerivedFrom	wikipedia-en:Equivalence_in_financial_services?oldid=1107023700&ns=0
page length (characters) of wiki page	29854 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Equivalence_in_financial_services
is Link from a Wikipage to another Wikipage of	Equivalence in financial services (European Union)
is Wikipage redirect of	Equivalence in financial services (European Union)
is foaf:primaryTopic of	wikipedia-en:Equivalence_in_financial_services

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