Ten years after Solvency II came into force, equivalence has become an established part of the EU’s prudential architecture for dealing with third country insurance markets.

Regulatory simplicity has become a significant part of the EU’s competitiveness agenda. But while it’s important, it’s not enough to make Europe competitive on its own.

Europe’s securitisation debate rightly pays close attention to banks, reflecting the bank-based nature of the EU financial system and the central role they play in origination, r