03.29.2021

UK And EU Agree MoU On Financial Services

Technical discussions on the text of the Memorandum of Understanding, which was agreed in a Joint Declaration on Financial Services Regulatory Cooperation alongside the Trade and Cooperation Agreement, have now been concluded.

Formal steps need to be undertaken on both sides before the Memorandum of Understanding (MoU) can be signed but it is expected that this can be done expeditiously.

The MoU, once signed, creates the framework for voluntary regulatory cooperation in financial services between the UK and the EU. The MoU will establish the Joint UK-EU Financial Regulatory Forum, which will serve as a platform to facilitate dialogue on financial services issues.

Source: HM Treasury

Related articles

  1. Commissioner McGuinness says UK cannot have equivalence with wide regulatory divergence.

  2. The change ensures compliance with CSDR after Brexit.

  3. Outlook 2016: Alexander Lehmann, LSEG

    The acquisition of Refinitiv was completed in January this year.

  4. Political relations between the UK and the Biden administration will be key in the coming months.

  5. Survey backed a ban on payment for order flow in the US markets.