Financial Conduct Authority agrees two post-Brexit Memoranda of Us with Australian Securities and Investments Commission – AG

The Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) have signed two memoranda of understanding (MoUs) regarding trade repositories and alternative investment funds (AIFs). The purpose of MoUs is to ensure continuity once the UK leaves the EU. HM Treasury has also confirmed that existing equivalence decisions granted by the European Commission in relation to Australia before exit day will generally be subsumed into UK law and therefore continue to apply post-Brexit.

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