The U.S.-UK Financial Regulatory Working Group held its 11th official meeting in London on June 3, 2025. Officials from HM Treasury and the U.S. Department of the Treasury were joined by representatives from various financial regulatory bodies including the Bank of England, Financial Conduct Authority, and others. The meeting focused on several key themes such as economic and financial stability outlooks, regulatory developments, digital finance, innovation, and investment environment.

The discussions opened with a review of current economic trends and market conditions in both the UK and U.S., emphasizing the need for a pro-growth regulatory system while maintaining robust financial standards to facilitate global financial stability. Participants exchanged views on multilateral work through organizations like the Financial Stability Board (FSB) and welcomed the new FSB Chair from the Bank of England.

Developments in non-bank financial intermediation were discussed with updates provided on domestic agendas and international engagement. Banking regulation topics included resolution-related developments and capital requirements supporting long-term growth.

Cybersecurity and operational resilience were also key points of discussion. Participants highlighted ongoing international cooperation at forums such as the FSB and shared updates on improving sector resilience. Approaches to digital finance innovation were explored, focusing on priorities for digital assets legislation including stablecoins regulation.

Representatives discussed cross-border payments modernization under G20 recommendations, sharing updates on payment system enhancements. Artificial intelligence (AI) use within financial services was another topic where authorities explored collaboration opportunities to maximize benefits while mitigating risks.

The investment environment was reviewed with discussions on capital markets regulation reforms aimed at revitalizing markets. UK participants outlined their reform programs including a move to T+1 settlement cycle by October 2027; meanwhile, U.S. participants noted their transition in May 2024.

At the conclusion of this eventful session, participants agreed to reconvene by early 2026 to maintain open dialogue on shared priorities.

The U.S.-UK Financial Regulatory Working Group continues its biannual meetings since its establishment in 2018 to deepen bilateral regulatory cooperation enhancing financial stability across jurisdictions.