Equivalence in Financial Services
A Legal and Policy Analysis
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Beschreibung
Equivalence in Financial Services offers a comprehensive and cross-industry examination of the rules and procedures under EU financial legislation dedicated to third-country market actors. The equivalence regime has become particularly topical after Brexit, as the United Kingdom is now a third country from the perspective of the European Union. This book investigates whether the current equivalence system is fit for its purpose, namely facilitating cross-border finance while minimizing as extensively as possible financial risks.
After describing how the European Commission adopts equivalence measures, the book examines the implementation of the equivalence regime for the following entities: Credit Rating Agencies, Benchmarks, Trading Venues, Investment Firms, Investment Funds, Central Securities Depositories, Trade Repositories, and Central Counterparties. Addressing the most recent policy and legal developments, Equivalence in Financial Services provides an insightful guide into this complex area of financial regulation for scholars of financial regulation, legal practitioners, and policy makers.
Francesco Pennesi is a researcher at the Erasmus School of Law and an Italian qualified attorney specialized in financial regulation and supervision. He defended his Phd (Marie Curie Fellowship) at Erasmus University Rotterdam. His work has been published on Perspectives on Federalism, European Papers, and the Common Market Law Review.
Equivalence in Financial Services offers a comprehensive and cross-industry examination of the rules and procedures under EU financial legislation dedicated to third-country market actors. The equivalence regime has become particularly topical after Brexit, as the United Kingdom is now a third country from the perspective of the European Union. This book investigates whether the current equivalence system is fit for its purpose, namely facilitating cross-border finance while minimizing as extensively as possible financial risks.
After describing how the European Commission adopts equivalence measures, the book examines the implementation of the equivalence regime for the following entities: Credit Rating Agencies, Benchmarks, Trading Venues, Investment Firms, Investment Funds, Central Securities Depositories, Trade Repositories, and Central Counterparties. Addressing the most recent policy and legal developments, Equivalence in Financial Services provides aninsightful guide into this complex area of financial regulation for scholars of financial regulation, legal practitioners, and policy makers.
Provides an in-depth and comprehensive legal analysis of the EU equivalence regime Offers a comprehensive analysis of the various equivalence frameworks Explains how equivalence works in practice with a hands-on approach
Autor*in
Francesco Pennesi
Themen in »Equivalence in Financial Services«
CCPs Global Clearing Market Access Market Fragmentation Brexit Financial Globalization Equivalence and Substituted Compliance Regulatory Fragmentation Capital Markets Union EU financial regulation Cross-border Supervision Macroprudential Supervision Credit Rating Agencies European Supervision
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“This book offers an excellent discussion of the EU equivalence regime, which will be of great interest to readers both familiar and non-familiar with this topic. Both legal and economic perspectives are discussed in such a way that the book will be appreciated by lawyers and economists alike.”
—Jakob de Haan, Faculty of Economics and Business, University of Groningen.
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