Jump to content

 

BankFodder BankFodder


Sign in to follow this  
NewsBot

Operation of the MoU with the Bank of England for market infrastructure - 2017 performance statement

style="text-align:center;"> Please note that this topic has not had any new posts for the last 695 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Domestically, the Bank co-operates closely with both the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) in relation to supervising market infrastructure and payment systems respectively. The frameworks for co-operation are set out in Memorandums of Understanding*(MoUs) which are reviewed annually by the parties involved, including by seeking feedback from supervised Financial Market Infrastructures (FMIs). Co-operation supports effective supervision and policymaking by sharing information between the regulators and promotes efficiency by minimising duplication.The Bank and FCA held a consultation with FMIs and reviewed their co-operation regarding market infrastructure in 2017. The authorities concluded that the MoU’s arrangements for co-operation remain effective, with appropriate co-ordination and no material duplication. Industry respondents acknowledged the efforts made on co-operation and emphasised its growing importance given the changing environment. The Bank and FCA remain committed to effective co-operation and staff will work together to take forward those suggested improvements identified by industry — for example by joint industry working groups on issues of shared interest and representation at project boards. The authorities will also review the MoU to ensure it continues to appropriately reflect their respective roles and responsibilities once the United Kingdom has left the EU.

 

More...

Share this post


Link to post
Share on other sites
Sign in to follow this  

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...