Industry Criticizes Equivalence Measures in Europe’s Brexit Stance

Experts welcome transitional relief but say equivalence is not an appropriate basis for free-trade agreements.

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These discussions follow on from the latest draft of the European Union’s (EU’s) negotiation guidelines published this month, which suggest the UK and the EU’s post-Brexit relations should rely on “appropriate” rules, cooperation and access to markets.

In a revised version of the European Council’s negotiation guidelines, seen by WatersTechnology, the EU will offer “improved equivalence” for UK financial services, but the meaning of this is unclear.

“Regarding financial services, the aim

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