The Financial Reporting Council (FRC) and Financial Conduct Authority (FCA) have published a Memorandum of Understanding (MOU) setting out:
- the respective statutory regulatory responsibilities of the FRC and FCA;
- the arrangement for co-operation between the two bodies; and
- the exchange of relevant information.
In addition, the MoU aims to aid, through clarity and transparency, understanding of the above by firms, Parliament and the public.