The inaugural meeting of the US-UK Financial Regulatory Working Group was held on 12 September 2018 in London. The working group was formed to deepen bilateral regulatory cooperation with the view to promote financial stability, investor protection, fair, orderly and efficient markets and capital formation in both jurisdictions. Regulatory cooperation is important given the UK’s withdrawal from the European Union. The working group issued a joint statement following the meeting, focusing on:
- financial regulatory reforms and future priorities to further develop the financial services activity between the UK and US markets;
- consequences of Brexit on financial stability and cross-border financial regulation; and
- US-UK financial regulatory issues resulting from Brexit.
The working group will meet again in January 2019.