FCA confirms MoUs with ESMA and EU securities regulators

On 1 February 2019, we announced the agreement of Memoranda of Understanding (MoUs) with the European Securities and Markets Authority (ESMA) and EU regulators covering cooperation and exchange of information in the event the UK left the EU without a withdrawal agreement.

The UK has since left the EU with the Withdrawal Agreement in place on 31 January and the UK entered into a transition period. As EU law continues to apply in the transition period, these MoUs were not required to take effect.

The FCA, ESMA, and EU national securities regulators, confirm that these MoUs remain relevant and appropriate to ensure continued good cooperation and exchange of information. The MoUs will come into effect at the end of the transition period, which is set to expire on 31 December 2020.

Firms should refer to our Brexit pages and consult further specific sectoral information, which we will continue to keep under review.