---
title: "PLENITUDE INSIGHTS: EU Equivalence after Brexit"
description: This paper looks at how, since Brexit, UK legislation and regulation is no longer viewed as implicitly equivalent to that of the EU’s
---

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# [PLENITUDE INSIGHTS: EU Equivalence after Brexit](https://www.plenitudeconsulting.com/news-insights/plenitude-insight-eu-equivalence-and-the-uk-regulatory-pathway)

 Written by [Harriet Lance Jones](https://www.plenitudeconsulting.com/news-insights/author/harriet-lance-jones) | Oct 17, 2022 3:04:00 PM

During membership of the EU and European Economic Area (EEA), the UK was required to comply with EU legislation,  
which in turn granted it access to the EU 'passport’. The passport allowed for free access to capital markets across all EU  
member states. With Britain’s departure from the EU, free access to the single market was withdrawn, forcing the UK into  
a ‘third country’ status.

Since Brexit, UK legislation and regulation is no longer viewed as implicitly equivalent to that of the EU’s, as the UK was  
no longer obliged to comply with the EU’s regulatory structure. Financial institutions are now required to fulfil further third  
country criteria, such as gaining formal ‘equivalence’ status from the EU Commission, in order to trade freely and operate  
within the EU. While the UK’s legislation may be equivalent in real terms, it cannot obtain the passport without an official  
equivalence decision from the EU, which has not yet been granted. As many UK firms have customers or clients based in  
the EU, access to EU capital markets is essential, emphasising the need to regain equivalence status.

[View full post](https://www.plenitudeconsulting.com/news-insights/plenitude-insight-eu-equivalence-and-the-uk-regulatory-pathway)

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