Financial Regulatory Working Group issues joint statement on UK-US

The Financial Regulatory Working Group’s meeting on 20 October was the first since the UK left the EU. The meeting focussed on five key themes:

• the economic response to, and potential financial stability impacts of, the COVID-19 crisis;
• international cooperation and 2021 priorities;
• cross-border rules and overseas recognition/ equivalence/ substituted compliance regimes;
• sustainable finance; and
• financial innovation.

Participants will continue to engage bilaterally on the above topics (as well as others of mutual interest) ahead of the next Working Group meeting, which is expected to take place in H1 2021.