UK and EU sign MoU

Jeremy Hunt has made his first visit to Brussels as Chancellor to sign the EU/UK financial services MoU. The MoU sets out arrangements for information sharing, exchanges of views and enhanced co-operation on financial regulatory matters. It includes commitments to work, as apppropriate, towards compatibility of each other’s standards and identify cross-border regulatory issues including the potential for regulatory arbitrage. Meetings of the joint Forum will be at least semi-annual and will discuss a range of issues including timely domestic implementation of relevant international standards and decisions to adopt, suspend or withdraw equivalence decisions.

Emma Radmore