The U.S.-UK Financial Regulatory Working Group held its twelfth official meeting in Washington, DC on Feb. 25, hosted by the U.S. Department of the Treasury.
Senior officials from both the U.S. Treasury and His Majesty’s Treasury attended, along with representatives from major regulatory bodies such as the Board of Governors of the Federal Reserve System, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Bank of England, and Financial Conduct Authority. The participants addressed a range of issues within their areas of responsibility.
Key topics included economic and financial stability outlooks for both countries; progress updates from the Transatlantic Taskforce for Markets of the Future (TTMF); developments in digital finance; innovation including digital assets; regulatory modernization; artificial intelligence (AI) applications in financial services; cybersecurity; operational resilience; non-bank financial intermediation (NBFI); banking regulation; and capital markets reform.
During discussions on digital finance, authorities expressed broad support for global growth in digital assets and innovation. Updates were provided on regulation supporting stablecoins for payments as well as cross-border initiatives like the UK's Digital Securities Sandbox. Both sides highlighted continued bilateral engagement to monitor developments in digital assets.
The group also exchanged views on AI’s current uses and future potential within financial services sectors while discussing ways to work together to realize benefits and mitigate risks associated with this technology. Cybersecurity concerns were addressed with an emphasis on operational resilience for supervised institutions using critical third parties.
The Working Group plans to reconvene formally in summer 2026 to continue its biannual dialogue that began in 2018 with aims to deepen regulatory cooperation between both countries.
