passporting
n.— «Some banks had been allowed to open branches in the UK through a process known as “passporting,” which meant they were not regulated by the FSA, explained Lord Davies.» —“UK ‘ignored Iceland bank warning’” by Brian Wheeler BBC News (United Kingdom) Oct. 10, 2008. (source: Double-Tongued Dictionary)
Further reading
Is there something inherent in English that makes it the linguistic equivalent of the Borg, dominating and consuming other languages in its path? No, not at all. The answer lies with politics and conquest rather than language itself. Plus: a new...
Mike in Ukiah, California, grew up in the UK, where he often heard the expression to know your onions, meaning “to be knowledgeable about something.” He suspects the phrase is rhyming slang, but It’s most likely one of many...