Regulatory News
FCA: Berne Financial Services Agreement for UK and Swiss firms
FCA has added a section on marketing AIFs in the UK to this webpage.
BoE/PRA/FCA: The Berne Financial Services Agreement – guidelines for firms
The regulators have published guidelines for UK and Swiss investment and insurance firms.
The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025/1145
The Regulations, previously reported on when in draft, implement provisions in the Berne Financial Services Agreement and set out the UK regulators’ powers. (Date in force: 1 January 2026)
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FCA: Berne Financial Services Agreement for UK and Swiss firms
FCA has updated the firm questions section on its webpage.
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FCA: CP25/24: Quarterly Consultation Paper
FCA has amended the QCP to include an addendum proposing an amendment relating to the Berne Financial Services Agreement Guide – specifically to BFSAG 2.1.1G to clarify how deference applies to untied insurance intermediaries. Accordingly, the previous reference to “intermediaries” in this sentence has been removed from the current online version of the QCP and should be disregarded in the original version of the QCP.
BoE/PRA/FCA/FINMA: MoU
The purpose of the MoU is to set out the arrangements for supervisory cooperation and information sharing according to Article 14 paragraph 5 of the Berne Financial Services Agreement between the parties.
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FCA: Berne Financial Services Agreement for UK and Swiss firms
FCA has updated its webpage to include questions based on feedback from firms.
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The OTC Derivatives Risk Mitigation and Central Counterparties (Equivalence) (Switzerland) Regulations 2025/898
These Regulations set out HMT’s equivalence determination in respect of the regulatory framework in Switzerland that applies to risk mitigation techniques for OTC derivative contracts not cleared by a CCP and the regulatory framework that applies to CCPs that are established in Switzerland. (Date in force: 1 January 2026)
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FCA: Berne Financial Services Agreement
FCA is inviting eligible UK insurers and Swiss investment firms to register their interest in providing cross-border services as part of the Berne Financial Services Agreement.
The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025 (Draft)
These Regulations implement provisions in the Berne Financial Services Agreement and set out the UK regulators’ powers. (Date in force: 1 January 2026)
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