HM Treasury has published draft legislation that will allow the UK to make timely equivalence decisions in relation to the EU.
Key Points:
..Post-Brexit, HM Treasury will take on the role of making equivalence decisions under onshored EU financial service legislation, but the power to make such decisions will only apply after exit day.
..To ensure that all necessary equivalence decisions are in place upon exit day, and avoid undue market disruption, this legislation will give HM Treasury temporary powers to make equivalence decisions in relation to EEA Member States.
Please see full publication below for more information.
