WASHINGTON—The governments of the U.S. and U.K. held their second meeting of the U.S.-U.K. Financial Regulatory Working Group in Washington this week. The inaugural meeting of the Working Group took place in September 2018.
The Working Group previously stated it was formed to improve “bilateral regulatory cooperation with a view to the further promotion of financial stability; investor protection; fair, orderly, and efficient markets; and capital formation in both jurisdictions.”
As part of the excursion to the U.S., the two countries announced a “Financial Innovation Partnership” focusing on fintech, Crowdfund Insider reported.
“Technology is the future of financial services, and innovation drives growth. By jointly fostering entrepreneurial breakthroughs, we will write a new chapter in the longstanding friendship between America and Britain,” stated Heath Tarbert, acting undersecretary for International Affairs at the U.S. Department of the Treasury
John Glen, Economic Secretary to HM Treasury, added, “The United Kingdom and United States lead the world in financial services, and are at the cutting edge of innovative Fintech. By working more closely together through this new partnership we can help firms in both our countries to go even further to harness new technologies, share expertise and serve consumers.”