Skip to main content
  • Book
  • © 2022

Equivalence in Financial Services

A Legal and Policy Analysis

Palgrave Macmillan

Authors:

(view affiliations)
  • Provides an in-depth and comprehensive legal analysis of the EU equivalence regime

  • Offers a comprehensive analysis of the various equivalence frameworks

  • Explains how equivalence works in practice with a hands-on approach

Part of the book series: EBI Studies in Banking and Capital Markets Law (ESBCML)

Buying options

eBook
USD 119.00
Price excludes VAT (USA)
  • ISBN: 978-3-030-99269-9
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book
USD 159.99
Price excludes VAT (USA)

This is a preview of subscription content, access via your institution.

Table of contents (9 chapters)

  1. Front Matter

    Pages i-xx
  2. Introduction

    • Francesco Pennesi
    Pages 1-7
  3. The Regulation of Cross-Border Finance

    1. Front Matter

      Pages 9-9
    2. Financial Regulation and Systemic Risk

      • Francesco Pennesi
      Pages 11-26
    3. The Regulation of Globalized Finance

      • Francesco Pennesi
      Pages 27-46
  4. Cross-Border Regulation in the EU: The Passport and the Equivalence Regime

    1. Front Matter

      Pages 47-47
  5. A Cross-Industry Analysis of the EU Equivalence Regime

    1. Front Matter

      Pages 93-93
    2. A Proposal to Reform the EU Equivalence Regime

      • Francesco Pennesi
      Pages 201-234
  6. Back Matter

    Pages 235-265

About this book

Equivalence in Financial Services offers a comprehensive and cross-industry examination of the rules and procedures under EU financial legislation dedicated to third-country market actors. The equivalence regime has become particularly topical after Brexit, as the United Kingdom is now a third country from the perspective of the European Union. This book investigates whether the current equivalence system is fit for its purpose, namely facilitating cross-border finance while minimizing as extensively as possible financial risks.

After describing how the European Commission adopts equivalence measures, the book examines the implementation of the equivalence regime for the following entities: Credit Rating Agencies, Benchmarks, Trading Venues, Investment Firms, Investment Funds, Central Securities Depositories, Trade Repositories, and Central Counterparties. Addressing the most recent policy and legal developments, Equivalence in Financial Services provides an insightful guide into this complex area of financial regulation for scholars of financial regulation, legal practitioners, and policy makers.

Francesco Pennesi is a researcher at the Erasmus School of Law and an Italian qualified attorney specialized in financial regulation and supervision. He defended his Phd (Marie Curie Fellowship) at Erasmus University Rotterdam. His work has been published on Perspectives on Federalism, European Papers, and the Common Market Law Review

Keywords

  • CCPs
  • Global Clearing
  • Market Access
  • Market Fragmentation
  • Brexit
  • Financial Globalization
  • Equivalence and Substituted Compliance
  • Regulatory Fragmentation
  • Capital Markets Union
  • EU financial regulation
  • Cross-border Supervision
  • Macroprudential Supervision
  • Credit Rating Agencies
  • European Supervision

Reviews

“This book offers an excellent discussion of the EU equivalence regime, which will be of great interest to readers both familiar and non-familiar with this topic. Both legal and economic perspectives are discussed in such a way that the book will be appreciated by lawyers and economists alike.”

Jakob de Haan, Faculty of Economics and Business, University of Groningen.

Authors and Affiliations

  • Erasmus University Rotterdam, Rotterdam, The Netherlands

    Francesco Pennesi

About the author

Francesco Pennesi is a researcher at the Erasmus School of Law and an Italian qualified attorney specialized in financial regulation and supervision. He defended his Phd (Marie Curie Fellowship) at Erasmus University Rotterdam. His work has been published on Perspectives on Federalism, European Papers, and the Common Market Law Review.


Bibliographic Information

  • Book Title: Equivalence in Financial Services

  • Book Subtitle: A Legal and Policy Analysis

  • Authors: Francesco Pennesi

  • Series Title: EBI Studies in Banking and Capital Markets Law

  • DOI: https://doi.org/10.1007/978-3-030-99269-9

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

  • Hardcover ISBN: 978-3-030-99268-2

  • eBook ISBN: 978-3-030-99269-9

  • Series ISSN: 2730-9088

  • Series E-ISSN: 2730-9096

  • Edition Number: 1

  • Number of Pages: XX, 265

  • Number of Illustrations: 2 b/w illustrations, 3 illustrations in colour

  • Topics: Financial Services, Financial Law

Buying options

eBook
USD 119.00
Price excludes VAT (USA)
  • ISBN: 978-3-030-99269-9
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book
USD 159.99
Price excludes VAT (USA)