The Swiss Financial Market Supervisory Authority (FINMA) and the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) signed a memorandum of understanding setting out how supervisory cooperation will work in practice under the Berne Financial Services Agreement (BFSA), with a focus on enabling cross-border activity through mutual recognition in insurance and investment services. The MoU covers operational arrangements including notifications and annual returns, registration in the relevant register, supervisory dialogue, and the supervisor’s right to intervene in the country of activity. It also establishes information-sharing channels for supervisory purposes, both upon request and on a spontaneous basis. The MoU will take effect when the BFSA enters into force at the beginning of 2026.
Swiss Financial Market Supervisory Authority (FINMA) 2025-09-22
Swiss Financial Market Supervisory Authority and UK regulators sign MoU to operationalise the Berne Financial Services Agreement for insurance and investment services
The Swiss Financial Market Supervisory Authority, UK Financial Conduct Authority, and Prudential Regulation Authority signed a memorandum of understanding under the Berne Financial Services Agreement to facilitate cross-border activity through mutual recognition in insurance and investment services. The MoU outlines operational arrangements, supervisory dialogue, and information-sharing channels. It takes effect when the BFSA enters into force in early 2026.