HMT publishes response to IAC Report on the Berne Financial Services Agreement
HM Treasury (HMT) has published its response to International Agreements Committee on the Berne Financial Services Agreement. The response highlights the progress made in the treaty in establishing regulatory cooperation and call upon the Government to subject any MoU to appropriate parliamentary oversight (Paragraph 33); the Committee’s support for exploring sectoral expansion of the Agreement at the appropriate time; the Committee’s endorsement of the Agreement; Government’s engagement to make the fullest possible use of the recently established MoU with the EU on financial services; and the ongoing engagement and consultation with industry, and call on the Government to do all it can to support uptake and utilisation of the Agreement.