UK Financial Regulatory Forum to serve as a platform for cooperation and undertake forward planning, that Forum will not take any regulatory, supervisory or legal decisions nor will it make any equivalence determinations
In a process that began in December 2020 with a Joint Declaration on Financial Services Regulatory Cooperation, on 27 June 2023 the UK and the EU signed a Memorandum of Understanding.
On 27 June 2023, the UK signed a long-awaited Memorandum of Understanding ("MoU") with the European Union ("EU") to increase co-operation on financial services. The MoU.
Seven years after the UK referendum voted in favour of leaving the EU, the two jurisdictions have inked an agreement on financial services co-operation. But the agreement is unlikely to lead to greater regulatory alignment.