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<p>The financial services section of the Political Declaration on the Future Relationship
outlines that as part of the close and structured cooperation between the UK and EU
on regulatory and supervisory matters that there should be initial decisions on equivalence
by June 2020 and clear processes around the suspension and withdrawal of equivalence
decisions in future. As of today, there are 43 equivalence provisions in EU legislation
across a range of financial services sectors, of which only three<sup><sup>[1]</sup></sup>
state that jurisdictional equivalence can be withdrawn with 30 days’ notice. The agreement
reached with the EU will establish new processes to give further confidence to firms
and consumers that the equivalence relationship between the EU and UK will be a durable
one.</p><p> </p><p><sup><sup>[1]</sup></sup> MiFIR Article 33, STFR Article 21 and
EMIR Article 13</p>
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