UK, EU Agree To Financial Services Regulatory Arrangement
Law360, London (March 28, 2021, 1:36 PM BST) -- Britain and the European Union have finalized the technical elements for a memorandum of understanding that sets out how the two sides will coordinate financial services regulation.
HM Treasury said on Friday that the U.K. and the EU have concluded negotiations over the voluntary regulatory regime now that Britain has left the EU. Details of the agreement were withheld as they await final approval, the Treasury said.
"The [memorandum], once signed, creates the framework for voluntary regulatory cooperation in financial services between the U.K. and the EU," the Treasury said. The memorandum "will establish the Joint U.K.-EU Financial Regulatory Forum, which...
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