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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[1]<\/sup><\/sup> state that jurisdictional equivalence can be withdrawn with 30 days\u2019 notice.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> [1]<\/sup><\/sup> MiFIR Article 33, STFR Article 21 and EMIR Article 13<\/p>"}
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