UK and EU Sign Memo for Post-Brexit Finance Regulation
- Long-awaited deal shows progress after string of disagreements
- Accord covers interactions between financial regulators
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The UK and the European Union signed a long-awaited memorandum of understanding on financial services on Tuesday, marking a moment of accord amid years of wrangling over post-Brexit co-operation.
Jeremy Hunt approved the memo with Commissioner Mairead McGuinness during the first visit to Brussels by a UK chancellor in more than three years. Hunt described the move as an “important turning point,” saying “we have shared objectives and cooperation is essential.”