Technical negotiations concluded on the UK and EU Memorandum of Understanding (MoU)
On 26 March 2021, HMT announced that technical negotiations were concluded on the UK and EU MoU. HMT states that formal steps need to be undertaken on both sides before the MoU can be signed but it is expected that this can be done expeditiously.
The MoU, once signed, creates the framework for voluntary regulatory cooperation in financial services between the UK and the EU. The MoU will establish the Joint UK-EU Financial Regulatory Forum, which will serve as a platform to facilitate dialogue on financial services issues.