The Bank of England has published a joint review with the FCA on how the Memorandum of Understanding (MoU) for financial market infrastructure (FMI) is working.
The Bank of England and the FCA (the authorities) cooperate on the supervision of FMIs.
The authorities consulted with FMIs to assess the effectiveness of cooperation between the Bank and FCA over the past 12 months.
Following the responses, the authorities have concluded that the arrangements for cooperation remain effective with appropriate coordination and no material duplication.
Both authorities remain aware that, through efficient coordination, we can improve the effectiveness by which we supervise firms.