During March 2021, the UK and EU completed technical discussions on a Memorandum of Understanding on financial services. The MoU sets out a framework for regulatory cooperation and establishes a Joint UK-EU Financial Regulatory Forum for dialogue and information sharing. In a recent interview, former head of the EC’s Brexit Taskforce, Michel Barnier, emphasized that the EC would maintain its right to grant unilateral equivalence  ‘where it is in our interest….and where it also guarantees the protection….of financial stability of the euro area and single market’.

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