Regulatory Alerts2019-02-14
Added · Updated
Circular on the Agreement Between ESMA and EU Securities Regulators with the UK’s Financial Conduct Authority as Part of a No-Deal Brexit Scenario
The document informs the securities industry of Memoranda of Understanding executed between the European Securities and Markets Supervision Authority and the UK’s Financial Conduct Authority to facilitate supervisory cooperation in a no-deal Brexit scenario. These agreements cover the exchange of information regarding credit rating agencies and trade repositories, as well as multilateral supervisory cooperation for market surveillance and investment services. The Multilateral Memorandum of Understanding allows certain activities, such as fund manager outsourcing and delegation, to continue by UK-based entities on behalf of EEA counterparties. The Monetary Authority of Malta confirms it is a signatory to the multilateral agreement.
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