HM Treasury and Switzerland’s State Secretariat for International Finance published a joint statement on the UK-Switzerland Financial Dialogue held in London on Nov. 4, 2026, reporting the first Joint Committee review of the Berne Financial Services Agreement (BFSA). The dialogue examined the agreement’s implementation alongside financial stability, digital finance and sustainable finance priorities. The Joint Committee discussed firm uptake and supervisors’ experience of the BFSA, which entered into force on Jan. 1, 2026. Both sides agreed to examine its functioning and development further before the next dialogue. Financial stability discussions covered Switzerland’s ongoing “too big to fail” reforms, risks from non-bank financial intermediaries, and the opportunities and stability risks associated with artificial intelligence in financial services. The delegations explored potential collaboration on cryptoassets and stablecoins and exchanged updates on digital finance and tokenization, including the Bank of England’s Digital Pound and the Swiss National Bank’s Project Helvetia. Sustainable finance discussions addressed disclosures, transition plans, transition finance and sustainability reporting standards. The next Financial Dialogue will take place in Switzerland in the second half of 2027.
HM Treasury and Switzerland’s State Secretariat for International Finance review Berne Financial Services Agreement at first Joint Committee meeting
HM Treasury and Switzerland’s State Secretariat for International Finance reported the first Joint Committee review of the Berne Financial Services Agreement, covering firm uptake and supervisory experience since its entry into force on Jan. 1, 2026. The wider dialogue addressed financial stability risks, potential cooperation on cryptoassets and stablecoins, digital finance and sustainable finance. Both sides agreed to consider the agreement’s functioning and development further before their next dialogue in Switzerland in the second half of 2027.