UK and EU Reach Initial Agreement to Cooperate in Market Regulation

The United Kingdom (UK) and the European Union (EU) are said to have reached an agreement to coordinate financial markets regulation following the Brexit, Bloomberg reported.

The agreed upon Memorandum of Understanding (MoU) has been finalized and is pending the official procedures of approval and ratification.

The agreement identifies the framework for cooperation and a forum to discuss regulatory collaboration and sharing information.

It is worth noting that the UK aims to maintain the position of London as a leading global and regional financial, especially within the European single market.