AFME welcomes EU-UK Draft Memorandum of Understanding

Adam Farkas, the Chief Executive of AFME, expressed strong support for the EC’s adoption of a draft MoU between the EU and UK (eventid=21246).
The draft MoU aims to establish a framework for structured regulatory cooperation between the two entities. Farkas emphasized that the MoU should establish a joint EU-UK Financial Regulatory Forum, which would facilitate cooperation on regulatory initiatives and priorities. He highlighted the importance of transparency and dialogue in the equivalence process, as outlined in the Joint Declaration accompanying the Trade and Cooperation Agreement.
Farkas also expressed hope that the MoU would be ratified by the Council. He further stated that the MoU should serve as a foundation for a cooperative, stable, and trustful long-term relationship between the EU and the UK in the realm of financial services.