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    Equivalence gets political
    Tuesday, February 16, 2021 - 17:33

    Differences over equivalence are contributing to deteriorating EU-UK relations.  The UK has granted equivalence to EU financial services firms. The EU has not reciprocated despite the UK being more aligned with it than any other country.

    How far will the UK diverge?
    Tuesday, February 16, 2021 - 17:27

    Mairead McGuinness, EU Commissioner for financial services, has said that the UK will not be given equivalence if there is ‘wide’ divergence. Rishi Sunak, the Chancellor, has identified areas where the UK will diverge, with others to follow. Will this be too much for the EU?

    AIFMD review
    Tuesday, February 16, 2021 - 17:23

    The Commission’s consultation on AIFMD has just closed. AIFMD changes are expected in the third quarter. How does the UK’s departure from the EU affect the Commission’s calculations? AIFMD was aimed primarily at UK managers.

    Reverse solicitation questioned
    Tuesday, February 16, 2021 - 17:19

    ESMA has reminded UK managers of the MiFID II rules on reverse solicitation and pointed to some ‘questionable practices.’ Providing investment services in the EU without authorisation can lead to criminal proceedings, it says.

    ESG: let the divergence begin
    Monday, January 18, 2021 - 22:12

    Regulatory divergence between the EU and UK will be a big theme this year. Chancellor Rishi Sunak has given an early indication of areas where the UK will diverge. Nor will the UK adopt the SFDR, the EU’s extensive ESG regulation.