MoUs with European authorities in the areas of securities, investment services and asset management, insurance and pensions, and banking

On 1 January 2021, several Memoranda of Understanding (MoUs) came into effect between the FCA and European authorities, covering cooperation and exchange of information.

The MoUs are:

1. A multilateral MoU with EU and EEA National Competent Authorities (NCAs[1]) covering supervisory cooperation, enforcement and information sharing relating to, among others, market surveillance, investment services and asset management activities.
2. An MoU with the European Securities and Markets Authority (ESMA)[2] covering supervision of credit rating agencies and trade repositories.
3. A multilateral MoU with EU and EEA NCAs[3] covering supervisory cooperation, enforcement and information exchange between UK and EU/EEA national supervisors in the field of insurance regulation and supervision.
4. An MoU with the European Insurance and Occupational Pensions Authority (EIOPA)[4] covering information exchange and mutual assistance between the UK authorities and EIOPA in the field of insurance regulation and supervision.
5. A MoU with the European Banking Authority (EBA)[5] covering information exchange and mutual assistance between the UK authorities and the EBA in the field of banking.
6. Individual MoUs with EU and EEA NCAs covering supervisory cooperation and information-sharing arrangements in the field of banking. These can be found on the Prudential Regulation Authority (PRA) website[6].