EIOPA, FCA, and PRA agreed on the Memoranda of Understanding (MoUs) for supervisory cooperation and exchange of information between the UK authorities and EU insurance supervisors in the event of the Brexit without a withdrawal agreement and implementation period.
The agreements consist of the following:
- A multilateral MoU with EU and European Economic Area (EEA) national competent authorities, covering supervisory cooperation, enforcement, and information exchange between UK and EU or EEA national supervisors
- An MoU with EIOPA, covering information exchange and mutual assistance between the UK authorities and EIOPA in the field of insurance regulation and supervision
Related Link: Press Release
Keywords: Europe, EU, UK, Insurance, MoU, Supervisory Cooperation, Information Exchange, EIOPA, FCA, PRA, BoE
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