British American Finance Alliance report on UK-US Financial Services: A foundation for Transatlantic Growth, Jobs and Security

The UK-US investment relationship is the largest in the world, and both countries’ financial services markets provide a significant level of financial services trade to each other. We at UK Finance seek to help further develop this trade.

UK Finance is a member of the British American Finance Alliance (BAFA), an organisation which represents the UK and US financial and related professional services industries. We contributed towards the development of a BAFA report which outlines some of the immediate and longer-term priorities of the UK and US financial services sectors for the US-UK Financial Regulatory Working Group (FRWG) and the Financial Innovation Partnership (FIP). It also looks at how authorities and industry on both sides of the Atlantic can work together on these priorities, particularly where coordination is of mutual interest.

The paper explores a variety of topics, including:

T+1 settlement: non-standard settlement cycles, cut-off times, storage requirements
Basel III Implementation: discussion and coordination regarding cross-border impacts
Sustainability and climate reporting: climate disclosure standards
Data and the digital economy: sustaining and expanding the US-UK data-bridge
Reducing the friction to Transatlantic financial services trade

If you would like further information on UK Finance’s international work, including with regards to the US, then please contact the International Affairs team at Internationalaffairs@ukfinance.org.uk