The Swiss Financial Market Supervisory Authority and the
UK’s Financial Conduct Authority and Prudential Regulation Authority have
signed a memorandum of understanding.
For investors, the agreement could expand cross-border
access to financial products. This may include areas such as retail contracts
for difference, which are classified as investment services. Any such access
would remain subject to oversight under the MoU.
Application of the Berne Financial Services Agreement
The MoU sets out how the Berne Financial Services Agreement will
be applied. The BFSA was signed by Switzerland and the United Kingdom on 21
December 2023 and provides for mutual recognition in some financial services.
It is scheduled to take effect at the beginning of 2026.
Coverage of Insurance and Investment Services
The agreement covers insurance and investment services. It
sets procedures for notifications, annual returns, and registration in official
registers.
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It also outlines how the authorities will maintain regular
dialogue and how they may intervene in each other’s jurisdiction when needed.
Die FINMA und die britischen Aufsichtsbehörden stärken ihre Zusammenarbeit im Finanzdienstleistungsbereich: pic.twitter.com/FYCZiudSB4
— Eidgenössische Finanzmarktaufsicht FINMA (@FINMA_media) September 22, 2025
Information Exchange Between Regulators
A central element of the MoU is information exchange. The
regulators agreed to share supervisory information upon request or on their own
initiative.
You may find it interesting at FinanceMagnates.com: 50%
of Swiss Financial Firms Use AI, FINMA Survey of 400 Institutions Shows.
The memorandum builds on existing cooperation between the
regulators. It is intended to provide a framework for new cross-border activity
once the BFSA comes into force.
FCA Seeks Feedback on Crypto Rules
The FCA
is seeking feedback on how its existing rules should apply to firms
operating in the crypto sector. The consultation examines the potential
extension of current handbook provisions to regulated crypto activities,
covering governance, operational resilience, financial crime controls, and
consumer protections.
Firms may be required to obtain FCA authorization before
conducting regulated activities. Responses are invited to inform the
development of a formal regulatory framework for digital assets once HM
Treasury’s legislation is introduced.
This article was written by Tareq Sikder at www.financemagnates.com.
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