Bank of England strengthens regulatory ties for international clearing

The Bank of England signed a memorandum of understanding to strengthen regulatory cooperation and information exchange regarding SEBI-recognized clearing corporations. This agreement establishes a framework for cooperation between the two regulators concerning central counterparties, in accordance with their respective laws and regulations. The arrangement is intended to facilitate international clearing activities through cross-border regulatory coordination.

The cooperation allows the Bank of England to rely on the regulatory and supervisory activities of the partner regulator while maintaining the financial stability of the United Kingdom. The agreement supports the oversight of clearing activities that involve cross-border financial markets.