Titlebook: Equivalence in Financial Services; A Legal and Policy A Francesco Pennesi Book 2022 The Editor(s) (if applicable) and The Author(s), under

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Evaluating the Effectiveness of Equivalence: Towards an Analytical Frameworko prevent as extensively as possible potential risks triggered by foreign actors. We find that, to be effective, equivalence frameworks should delegate ESMA with the supervision of third-country institutions, applying a different supervisory approach according to the systemic relevance of each entit

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