The UK as a Third Country Actor in EU Financial Services Regulation
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Authors
Ferran, Eilis
Publication Date
2017-03-01Journal Title
Journal of Financial Regulation
ISSN
2053-4833
Publisher
Oxford University Press
Volume
3
Issue
1
Pages
40-65
Language
English
Type
Article
This Version
AM
Metadata
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Ferran, E. (2017). The UK as a Third Country Actor in EU Financial Services Regulation. Journal of Financial Regulation, 3 (1), 40-65. https://doi.org/10.1093/jfr/fjw017
Abstract
Unless it remains in the single market via membership of the European Economic Area or is able otherwise to negotiate special access terms, after Brexit the UK will have to fall back on the third country provisions of EU financial services regulation. This article examines the complexities of the current Union approach to the treatment of third countries and considers the likelihood of Brexit smoothing the progression towards a more unified EU system. The article also considers what the evolution of the EU’s treatment of third countries is likely to mean for the UK as it seeks to negotiate continued access to the EU single market. Finally, the article explores new opportunities for the UK to innovate in regulatory design without impairing equivalence or undermining its commitment at the international level to global regulatory convergence.
Keywords
Brexit, EU financial regulation, third countries, equivalence
Identifiers
External DOI: https://doi.org/10.1093/jfr/fjw017
This record's URL: https://www.repository.cam.ac.uk/handle/1810/263020
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Licence:
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