FCA statement on MoUs with European authorities in the areas of securities, insurance and pensions, and banking

Regulatory Updates | 04/01/21

The Financial Conduct Authority (FCA) has issued a statement regarding Memoranda of Understanding (MoUs) with European authorities that came into effect at the end of the Brexit transition period.

The MoUs with the European Securities and Markets Authority (ESMA) and EU regulators cover cooperation and exchange of information.

The FCA also highlights the agreement of MoUs with the European Insurance and Occupational Pensions Authority (EIOPA), the Prudential Regulation Authority (PRA) and EU insurance supervisors covering supervisory cooperation and exchange of information.

On 20 March 2019, the FCA also announced the agreement of a template MoU with the PRA and European Banking Authority setting out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/EEA national authorities.