Third Country Equivalence

Third country equivalence relates to how the regulatory or supervisory regime in a non-EU country (a third country) compares to the corresponding EU framework. The main goal of equivalence is to effectively manage and facilitate cross-border activity of financial market players in a sound prudential environment. Do third countries adhere to and adopt standards of prudential rules that are equivalent to those in force within the EU? This is particularly relevant for the UK, post Brexit.