HM Treasury and the European Commission published a joint statement summarising the fourth Joint EU-UK Financial Regulatory Forum, held in Brussels on 1 October 2025 with participation from the European Central Bank, the European Supervisory Authorities, the Single Resolution Board, the Bank of England and the Financial Conduct Authority. The statement records exchanges across six themes and reiterates the EU and UK’s commitment to structured regulatory dialogue, including cooperation on anti-money laundering and sanctions alongside the Forum. Discussions covered the macro-economic and financial stability outlook, with attention to downside risks and monitoring global markets including the non-bank sector, and the importance of international coordination including via the Financial Stability Board. On banking, the agenda included Basel implementation, ongoing reforms to securitisation frameworks, and cross-border resolution, including work to operationalise open bank bail-in, as well as continued dialogue on market risk standards. Capital markets talks included EU updates on its Savings and Investments Union strategy and the 30 September adoption of a Recommendation on Savings and Investment Accounts and a Communication on Financial Literacy, alongside UK updates on its competitiveness and growth agenda, targeted support for investment and reforms to defined contribution workplace pensions. Both sides agreed to coordinate closely on accelerated settlement towards an implementation date of 11 October 2027, and exchanged updates on PISCES, consolidated tape initiatives and benchmarks regulation reforms. In asset management, the EU and UK discussed enhancing Money Market Fund resilience, EU progress on Alternative Investment Fund Managers Directive and UCITS reforms, planned UK reforms to the onshored Alternative Investment Fund Managers regime, sustainability-related disclosures under the EU Sustainable Finance Disclosure Regulation and the UK Sustainability Disclosure Requirements, and the UK’s Overseas Funds Regime now that it is open to equivalent retail funds from the European Economic Area. Digital finance exchanges covered cryptoassets, stablecoins and tokenisation, with reference to the 2023 Financial Stability Board global regulatory principles, while sustainable finance discussions included the European Commission’s Omnibus Simplification Package and UK plans for UK Sustainability Reporting Standards aligned to International Sustainability Standards Board standards with minor jurisdictional changes. The parties agreed to follow up on topics discussed between now and the next Forum, including an EU forthcoming public consultation on facilitating investors’ exits from private companies.
HM Treasury 2025-10-02
HM Treasury and European Commission publish joint statement on the fourth EU-UK Financial Regulatory Forum
HM Treasury and the European Commission issued a joint statement on the fourth Joint EU-UK Financial Regulatory Forum, emphasizing regulatory dialogue and cooperation on anti-money laundering and sanctions. Discussions included macro-economic stability, Basel implementation, securitisation reforms, and cross-border resolution, with updates on capital markets, asset management, and digital finance. Both parties agreed to coordinate on accelerated settlement and follow up on discussed topics, including an EU consultation on investor exits from private companies.