The Berne Financial Services Agreement

In partnership with Schellenberg Wittmer, DLA Piper hosted a webinar titled: The Berne Financial Services Agreement.

On 21 December 2023, Switzerland and the UK signed a bilateral treaty known as the Berne Financial Services Agreement.

This agreement signifies a significant milestone in mutual recognition within the financial services sectors. It establishes a framework where regulatory and supervisory standards of both jurisdictions are deemed equivalent across covered sectors such as banking, portfolio management, insurance services, and select asset management services. Additionally, it outlines principles of cooperation between Swiss and UK supervisory bodies aimed at enhancing regulatory compatibility.

Join our speakers, Karen Butler and Luke Prince from DLA Piper's Financial Services Regulatory team and Grégoire Tribolet from Schellenberg Wittmer's Banking and Finance Group, as they discuss:

• the current regulatory landscape for UK and Swiss financial institutions seeking to serve clients in both jurisdictions.
• highlight key changes that will be brought about by the Berne Financial Services Agreement, focusing on the banking, investment firm and wealth management sectors.