The European Union's executive body said on Wednesday it will finalise a long-delayed discussion forum for EU and UK financial regulators, once the deal on Northern Ireland has been implemented by Britain.
The forum, similar to what the EU already has with the United States, was due to have been created by March 2021, but was put on ice because of disagreements over trading relations with Northern Ireland.
Those disagreements have been ironed out in last month's agreement, or Windsor Framework, which has yet to be formally implemented by Britain.
"We are ready to start work on the finalisation of the Memorandum of Understanding (MoU) on financial services regulatory cooperation," a spokesman for the European Commission's financial services unit said on Wednesday.
"Once the Windsor Framework is implemented, this MoU would allow for a relationship similar to that with other third countries with an important financial services sector," the spokesman said.
Reuters
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