HM Treasury and the European Commission published a joint statement recording the discussions at the fifth Joint EU-UK Financial Regulatory Forum held in London. The statement reiterates the UK and EU’s commitment to regular, structured engagement on financial services regulation, alongside continued cooperation on areas including sanctions and anti-money laundering. The agenda covered policy and macro-financial outlooks, banking, digital finance, markets reform and sustainable finance, with participation from the Bank of England, the Financial Conduct Authority, the European Central Bank, the European Supervisory Authorities and the EU Single Resolution Board. Discussions included UK implementation of its Financial Services Growth and Competitiveness Strategy, the European Commission’s Savings and Investments Union strategy including its Market Integration and Supervision Package, and shared monitoring of risks including cybersecurity, operational resilience and the potential financial-system impact of the situation in the Middle East. The Forum also exchanged views on Basel implementation with agreement to hold further discussions, reforms to securitisation frameworks, cross-border resolution including work in international fora to operationalise open bank bail-in, and the policy and supervisory implications of digital innovation and digital assets, including the Financial Stability Board’s work on stablecoin vulnerabilities. On markets and fund sector issues, the UK and EU updated each other on reforms to benchmarks regulation, transaction reporting reviews intended to reduce regulatory burdens, and asset management initiatives including UK work on the Alternative Investment Fund Managers Directive, the Overseas Funds Regime and the Consumer Composite Investments regime, alongside EU measures under the market integration and supervision package. The sustainable finance exchange covered UK steps towards finalising UK Sustainability Reporting Standards and related FCA disclosure alignment work, regulation of ESG ratings providers and transition finance, and EU updates on its Omnibus Simplification Package and reviews of the Sustainable Finance Disclosure Regulation and the EU Taxonomy, with both sides pointing to the value of interoperability for cross-border firms and continued engagement via bodies including the International Association of Insurance Supervisors. The UK and EU agreed to follow up as appropriate ahead of the next Forum.
HM Treasury 2026-03-12
HM Treasury and European Commission issue joint statement on the fifth EU-UK Financial Regulatory Forum and set out further cooperation areas
HM Treasury and the European Commission issued a joint statement after the fifth Joint EU-UK Financial Regulatory Forum in London, highlighting cooperation in financial services regulation, sanctions, and anti-money laundering. Discussions covered the UK's Financial Services Growth and Competitiveness Strategy, the EU's Savings and Investments Union strategy, cybersecurity risks, and digital innovation. Updates were exchanged on benchmarks regulation, transaction reporting, asset management, and sustainable finance, with both parties agreeing on the importance of interoperability and continued engagement.