# The Financial Services (Overseas Recognition Regime Designations) Regulations 2025, Regulation 2: Overseas recognition regime designations


(1) For the purposes of these Regulations, an “overseas recognition regime designation” is a designation (however described) by the Treasury made under—
(a) a provision listed in the Schedule, or
(b) any other enactment which provides that the law and practice which applies in another country or territory in relation to a relevant area of law and practice—
(i) is equivalent to, or
(ii) has equivalent effect, taken as a whole, to,
the law and practice of the United Kingdom.
(2) In paragraph (1)—
(a) a reference to a relevant area of law and practice is to any such area that relates to financial services or markets (whether generally or in respect of particular matters);
(b) “territory” includes the European Union and any other international organisation or authority comprising countries or territories.

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Source: https://www.legislation.gov.uk/ukdsi/2025/9780348273922/regulation/2 (the official version)
Page: https://openlegislation.uk/draft-financial-services-overseas-recognition-regime-designations-regulations-2025/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.