HM Treasury has published a Memorandum of Understanding (MoU) between the FCA, PRA, Bank of England (BoE) and the Payment Systems Regulator. The MoU outlines how these institutions will cooperate with one another in relation to the supervision of markets and market infrastructure.
Amongst other things, the MoU covers:
- roles and responsibilities of the authorities;
- information exchange;
- consultation in relation to entities supervised solely by the FCA or BoE;
- cooperation in respect of groups and dual-regulated entities; and
- other specific areas of supervisory cooperation.