Write an essay in which you summarize and analyze this concept from douglass’s autobiography Sample Solution regulation is likely to remain similar between the EU…

Write an essay in which you summarize and analyze this concept from douglass’s autobiography

Sample Solution
regulation is likely to remain similar between the EU and UK when further consideration is given to mutual, recognition and free trade agreements (a comprehensive one being sought by the British government as a matter of priority) is a strong one. Recent British domestic legislation on financial services has been heavily influenced by EU law, moreover, Randall correctly identifies the opportunities that Brexit may present for the UK to independently innovate in the longer term. This is especially true with respect to FinTech. This essay will scrutinise passporting, most prominently with regard to its application in different sectors, the EU legislation that grants passporting rights, such as Undertakings for Collective Investment in Transferable Securities (UCITS) directive, and the third country equivalence regime. The European third country equivalence regime is a recent European innovation that provides the opportunity for non-EU/EEA countries (“third countries”) to operate in EU/EEA member states in certain sectors, in situations where the regulatory regime in the third country “is seen by the EU to have a broadly-equivalent regulatory regime”. The consequence of fulfilling this criteria is that financial institutions headquartered in third country states, as the UK will become following its planned departure from the EU, will be able to conduct their business operations across the EU and provide certain financial services to clients, as per the Markets and Financial Instruments Directive. On first appraisal, the third country equivalence regime may be considered as a direct substitute for the existing ‘passport’ arrangement that the UK enjoys as an EU member state. It is clear that the day the EU leaves the European Union, the domestic legislation that exists in the UK will, by virtue of the country’s previous EU membership, be compatible with EU law. Pursuant to this point, this essay will analyse the impact of Brexit on British financial services, with specific reference to the third country equivalence regime. As already argued, contrary to the beliefs of many commentators, there is stro>GET ANSWER Let’s block ads! (Why?)

Do you need any assistance with this question?
Send us your paper details now
We’ll find the best professional writer for you!

 



error: Content is protected !!