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EU-Third Country Financial Regulation and Supervision

Summary

This resolution outlines how the EU manages financial services from non-EU countries through 'equivalence' decisions. It calls for greater transparency, better monitoring of foreign markets, and stronger links to anti-money laundering standards.
10 11.09.2018
Other
economy
finance
taxation
european union
public administration
international relations

Key points

  • Increased regulatory cooperation between the EU and non-EU countries helps make the European financial system more resilient to global shocks.
  • Equivalence decisions are unilateral and do not grant foreign companies the same 'passporting rights' that allow EU-based firms to operate freely across the internal market.
  • The granting of equivalence should be linked to how effectively a country fights tax evasion, tax fraud, and money laundering.
  • The process for making equivalence decisions needs more transparency and should be subject to closer scrutiny by the European Parliament.
Documents (PDFs)
REPORT on relationships between the EU and third countries concerning financial services regulation and supervision Relationships between the EU and third countries concerning financial services regulation and supervision
These raw data are provided by the Open Data Portal of the European Union (data.europa.eu) and are licensed under ODC-BY 1.0.