On 25 September 2025, HM Treasury (HMT) published a policy paper on the inaugural UK-Australia Joint Financial Regulatory Forum (Forum), held virtually, and jointly chaired by Gwyneth Nurse, Director General (Financial Services) of HM Treasury (HMT), and James Kelly, Deputy Secretary (Markets Group) of the Australian Treasury on 24 September 2025.

The Forum included senior representatives from HMT, the Australian Treasury, the Bank of England, the Financial Conduct Authority, the Australian Securities and Investments Commission, the Reserve Bank of Australia, and the Australian Prudential Regulation Authority.

The Forum delivers on commitments under the UK-Australia Free Trade Agreement (FTA), signed in 2021, strengthening bilateral regulatory cooperation and multilateralism between the two jurisdictions.

The policy paper outlines the four key areas discussed in the Forum:

  • Regulatory reform: Both sides shared updates on ongoing domestic reforms. The UK highlighted its Financial Services Growth and Competitiveness Strategy and the progress made on implementing the regulators’ secondary international growth and competitiveness objectives. Australia provided an update on work across the Council of Financial Regulators and its regulatory reform agenda. Notably, both jurisdictions exchanged information on their respective approaches for enabling market access, including recognising overseas regulatory regimes.
  • Pensions regulation and retirement outcomes: The representatives from the UK and Australia exchanged views on pensions regulation. The UK highlighted its ongoing development of a “Value for Money” framework, while Australia discussed its established Member Outcomes Assessments regime. Both sides outlined their work to support individuals during decumulation to improve outcomes for pension savers.
  • Digital assets (cryptoassets and stablecoins): Both jurisdictions recognised the need for international cooperation, exchanging views on the structure of their respective crypto regulatory frameworks and potential similarities. Australia and the UK are committed to continuing their engagement on these issues, both bilaterally and through global bodies such as the Financial Stability Board and the International Organisation of Securities Commissions.
  • Sustainable Finance and Open Finance: Additional discussions will be taking place between UK and Australian officials, including  on open finance and sustainable finance.

The Forum was followed by an industry-led UK-Australia business roundtable on 25 September 2025, with participation from industry representatives from both jurisdictions sharing perspectives on regulatory priorities and market developments.