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3/19/2020

Joint Statement on Formation of a U.S.-UK Financial Regulatory Working Group | U.S. Department of the Treasury

Joint Statement on Formation of a U.S.-UK Financial Regulatory
Working Group
April 19, 2018

WASHINGTON – The importance and prominence of U.S. and UK financial markets and the
transition in the UK’s regulatory relationship with the EU due to Brexit, provides an opportunity
to formalize our bilateral regulatory cooperation engagement. To this end we are announcing
the formation of a U.S.-UK Financial Regulatory Working Group (Working Group) with a view to
the further promotion of financial stability; investor protection; fair, orderly, and e icient
markets; and capital formation on both sides of the Atlantic.
The Working Group should be a forum for Her Majesty’s Treasury and the Treasury Department
of the United States sta , along with sta from applicable U.S. and UK financial regulatory
authorities, to exchange views on the regulatory relationship between the United States and the
UK.
The Working Group is anticipated to meet twice a year, with additional technical meetings and
calls, as appropriate, between the biannual meetings. The Working Group will be used as a
platform for furthering financial regulatory cooperation, with the general operational objective
to improve transparency, reduce uncertainty, identify potential cross-border implementation
issues, work towards avoiding regulatory arbitrage and towards compatibility, as appropriate,
of each other’s national laws and regulations. Bilateral contacts will continue, as appropriate,
outside the Working Group on any issue related to our ongoing financial regulatory cooperation.

https://home.treasury.gov/news/press-releases/sm0354

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