British and U.S. financial regulators renew co-operation deal

© Reuters.

LONDON (Reuters) – The Bank of England and the U.S. Commodities and Futures Trading Commission (CFTC) said they had signed a new agreement on Tuesday to cooperate on the supervision of cross-border clearing of financial transactions.

The BoE said the new memorandum of understanding superseded an earlier one signed in 2009, to take account of changes since Britain had left the European Union in January.

“The CFTC and the BoE express their willingness to cooperate in the interest of fulfilling their respective regulatory mandates, particularly in preserving the benefits of cross-border clearing activity,” the BoE said.

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