EU proposals to regulate third country providers of financial services under CRDVI
Related people
22 November 2021
As part of the proposed Banking Package (CRDVI), the European Commission has proposed a harmonised EU regulatory framework for third country bank branches.
The proposals, if implemented in their current form, would have wide-ranging implications for non-EU providers of financial services to EU customers and counterparties. This would affect not just banks, but also lenders and other providers of financial services, whether they operate through EU branches or provide services cross-border. In this note we summarise the scope of and main requirements under the proposals, and discuss some of the key issues they raise for non-EU providers.