Progress - or as useful as a chocolate teapot? City's mixed reaction to post-Brexit co-operation talks

UK and EU debate memorandum of understanding

clock • 3 min read

The investment industry has offered a muted reaction to the preliminary steps the UK and EU have made to agreeing the rules of the game around post-Brexit financial services co-operation.

On Friday (26 March), HM Treasury and its EU counterpart, announced that "technical discussions on the text of the memorandum of understanding (MoU), which was agreed in a Joint Declaration on Financial Services Regulatory Co-operation alongside the Trade and Co-operation Agreement", had been concluded. Financial services risks becoming Brexit's orphaned child Formal steps need to be undertaken on both sides before the MoU can be signed, but the Treasury said it expected this to be "done expeditiously". Once signed, the MoU creates the framework for voluntary regulatory co-operatio...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Government to bring ESG ratings providers under FCA mandate

Government to bring ESG ratings providers under FCA mandate

Request for input by 14 January

Linus Uhlig
clock 15 November 2024 • 4 min read
FCA admits there could have been better handling of name and shame proposals

FCA admits there could have been better handling of name and shame proposals

Update on proposals due next week

Sorin-Andrei Dojan
clock 13 November 2024 • 3 min read
FCA renews approach to enforcement disclosures after failures on Julius Baer case

FCA renews approach to enforcement disclosures after failures on Julius Baer case

Following Upper Tribunal criticism

Valeria Martinez
clock 12 November 2024 • 2 min read
Trustpilot