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Aug 27, 2014

Extraterritoriality Revisited: Access to the European Markets by Financial Institutions, Funds and Others from Outside Europe

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In an effort to harmonize investor protection across the EU and ensure effective market competition, a framework has been established for financial institutions, funds and market infrastructure established outside the EU to access European investors and markets. Under certain key pieces of current and proposed EU legislation, such access generally will require the determination of the “equivalence” of the local regulatory system governing the non-EU institution. Further, co-operation agreements may need to be put in place between the third country and a EU member state or ESMA. This note sets out the requirements for different types of market participants to gain access to the EU markets.

View full memo, Extraterritoriality Revisited: Access to the European Markets by Financial Institutions, Funds and Others from Outside Europe

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Russell Sacks

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7585

+1 212 848 7585

New York

Reena Agrawal Sahni

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7324

+1 212 848 7324

New York

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

Milan

Hervé Letréguilly

Partner

Capital Markets

+33 1 53 89 71 30

+33 1 53 89 71 30

Paris

Lorna Xin Chen

Partner

Investment Funds

+852 2978 8001

+852 2978 8001

Hong Kong

Masahisa Ikeda

Partner

Capital Markets

+1 212 848 5378

+1 212 848 5378

New York

Kolja Stehl

Counsel

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5864

+44 20 7655 5864

London

John Adams

Partner

Investment Funds

+44 20 7655 5740

+44 20 7655 5740

London