The UK and EU have signed a financial services cooperation agreement to establish a constructive and mutually beneficial relationship in the financial sector.
Facts
- UK Chancellor Jeremy Hunt and European Commissioner Mairead McGuinness have signed a financial services cooperation agreement.
- The agreement aims to foster a constructive and mutually beneficial relationship between the UK and the EU in financial services.
- An ongoing forum will be established to discuss voluntary regulatory cooperation on financial services issues.
- Both sides will share information and coordinate positions on financial matters ahead of international meetings such as the G7 and G20.
- Jeremy Hunt emphasizes the deep interconnectedness of the UK and EU financial markets and the mutual benefits of this agreement.
- This agreement complements similar arrangements with the US, Japan, and Singapore, supporting the UK’s position as a global financial services hub.
