The US Department of the Treasury and the Office of the US Trade Representative have announced their intent to sign a UK-US covered agreement. The agreement is an important step in providing regulatory certainty and market continuity as the UK prepares to leave the EU in March 2019, as well as in making US companies more competitive in domestic and foreign markets and making regulations more efficient, effective and appropriately tailored.
Chief executive of the International Underwriting Association, Dave Matcham, welcomed the announcement, saying it reflects a strong trading relationship between the UK and the US.
“The IUA warmly welcomes the US Treasury’s announcement that it intends to sign a US-UK covered agreement,” he said. “This move is the result of close cooperation between regulators on both sides of the Atlantic and provides important certainty for companies as they look to service their clients’ needs post Brexit. It reflects both the strong trading relationships between the London Market and the US and international nature of our industry.”
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