More from the Brexit man on the spot
We're talking about mutual recognition and external equivalence rather than passporting for banks
Have not reached a decision yet
I believe this refers to the process where if a country has rules that are of an equivalent or better standard to that of Europe, it almost acts like a free pass to do business in Europe. That's a very simplistic view obviously but you get the drift.
Here's some guff from Europe on the subject. It's about the insurance industry but the premise is the same.
