In December 2018, the UK’s Better Regulation Executive invited the Organisation for Economic Cooperation and Development (OECD) to conduct a review into the UK’s international regulatory cooperation practices. The OECD published a report in May 2020 recommending that HM Government ensure more systematic consideration of international regulatory cooperation across government and regulatory bodies. In response, HM Government published a planned programme of work as well as a call for evidence to help identify priorities for regulatory cooperation. On 26 November 2020, the Financial Markets Law Committee submitted a response drawing attention to its work on cross-border cooperation in relation to financial services regulation, especially in the aftermath of the global financial crisis.
