In a joint article published on 11 January 2024, Dr Vaïk Müller and Ash Saluja from CMS present the Switzerland-UK Berne Financial Services Agreement. The agreement, announced on 21 December 2023, by the Swiss Federal Council and the UK's HM Treasury, signifies an important breakthrough after over two years of negotiations. Aimed at enhancing cooperation in financial services, the agreement introduces mutual recognition to facilitate the provision of various financial services between the two countries.
The article, which was first published on Reuters Regulatory Intelligence, outlines specific provisions for asset management, banking, investment services, financial market infrastructures, OTC derivatives and insurance, offering a comprehensive overview of the groundbreaking agreement's impact on the financial landscape.
Read the full report here.
