UK-Switzerland deal: Government recognises benefits of regulatory alignment

It has been reported that on Thursday the UK Government will sign a mutual recognition agreement on financial services with Switzerland.

Paul Blomfield MP, Co-convenor of the cross-party UK Trade and Business Commission said,

“This agreement will be well received across the City and is a welcome acknowledgement from the Government that providing regulatory certainty between UK industries and their most important markets is a good thing.

“The EU remains the largest overseas market for most British businesses and protecting them demands similar arrangements of beneficial regulatory alignment, which will break down barriers, reduce costs and unlock the huge potential of the UK economy.”