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.
UK and EU sign MoU
European Union flags in front of the Berlaymont building (European commission) in Brussels, Belgium.