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

On 1 February 2019, we announced the agreement of Memoranda of Understanding (MoUs) with the European Securities and Markets Authority (ESMA) and EU regulators covering cooperation and exchange of information. 

The MoUs are: 

  1. A multilateral MoU with EU and EEA National Competent Authorities (NCAs) covering supervisory cooperation, enforcement and information exchange.
  2. An MoU with the European Securities and Markets Authority (ESMA) covering supervision of Credit Rating Agencies and Trade Repositories.

On 5 March 2019, we announced the agreement of MoUs with the European Insurance and Occupational Pensions Authority, the Prudential Regulation Authority (PRA) and EU insurance supervisors covering supervisory cooperation and exchange of information.

The MoUs are:

  1. A multilateral MoU with EU and EEA National Competent Authorities (NCAs) covering supervisory cooperation, enforcement and information exchange between UK and EU/EEA national supervisors.
  2. An MoU with EIOPA covering information exchange and mutual assistance between the UK authorities and EIOPA in the field of insurance regulation and supervision.

On 20 March 2019, we 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.

The MoUs came into effect at the end of the transition period.

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