On 4 January 2021, the FCA issued a new webpage concerning the memoranda of understanding (MoUs) that it had entered into with European authorities and which became effective at the end of the transition period.

The MoUs include:

  • A multilateral MoU with EU and EEA national competent authorities covering supervisory cooperation, enforcement and information exchange.
  • An MoU with the European Securities and Markets Authority (ESMA) covering supervision of credit rating agencies and trade repositories.

On the same day ESMA published the following MoUs with the Bank of England (BoE):

  • MoU related to ESMA’s monitoring of the ongoing compliance with recognition conditions by central securities depositories established in the United Kingdom of Great Britain and Northern Ireland.
  • MoU between ESMA and the BoE to set out arrangements for cooperation on the monitoring and supervision of central counterparties established in the UK.