.svg)
The EU and the UK reaffirmed their commitment to regulatory cooperation in financial services during the third meeting of the Joint EU-UK Financial Regulatory Forum, held in London on February 12.
Senior officials from HM Treasury, the European Commission, the Bank of England (BoE), the Financial Conduct Authority (FCA) and other regulatory bodies participated in discussions covering issues such as banking regulation, sustainability and digitisation.
A significant emphasis was placed on AI, and the two jurisdictions “agreed to continue working together and with the wider international community to develop a common understanding of its benefits and risks, particularly in relation to the rapid innovation of financial services, to financial stability, and to public trust and safety”.
In addition, the UK outlined its plans for new legislation on crypto regulation, the EU highlighted the recent full implementation of its Markets in Crypto-Assets Regulation (MiCA), and both sides emphasised the need for global regulatory alignment.
Sustainable finance was another major topic, with discussions on disclosure requirements, green taxonomies and international cooperation to streamline reporting standards.
The EU outlined plans to simplify reporting burdens, and the UK shared insights from its recent green taxonomy consultation.
The forum concluded with a commitment to continued dialogue and collaboration ahead of the next meeting.
