The Bank of England and FCA confirm their cooperation framework remains effective after annual review with supervised firms in 2025.
The Bank of England and Financial Conduct Authority have reaffirmed their memorandum of understanding to supervise financial market infrastructure, including central counterparties and securities depositories. The agreement aims to enhance coordination and reduce regulatory duplication, with an annual review process in place to assess effectiveness.
Firms supervised under the framework reported strong support for the collaboration, citing improved policy and supervisory alignment. The regulators noted no material duplication in their activities, despite challenges from rapid technological change and external market pressures.
The MoU, reviewed annually, includes feedback from supervised entities to ensure operational efficiency. Both regulators emphasized the importance of agile cooperation amid evolving market conditions.