HISTORIC PRESS RELEASE : UK adopts regulatory co-operation with Argentine Financial Services sector [May 2001]

The press release issued by HM Treasury on 21 May 2001.

UK ADOPTS REGULATORY CO-OPERATION WITH ARGENTINE FINANCIAL SERVICES SECTOR

UK and Argentina have signed a Memorandum of Understanding which will ensure greater co-operation in tackling the abuse of financial rules and regulations.

The agreement was signed by Miss Melanie Johnson, Economic Secretary to the Treasury, Sir Howard Davies, Chairman of the Financial Services Authority, and by Mr Carlos Weitz, Chairman of the Comision Nacional de Valores of Argentina.

The Memorandum of Understanding also opens the way for UK investment service firms to access the domestic Argentine market, and for Argentine securities to be traded on the UK exchanges. The volume of cross-border business should rise accordingly to the benefit of UK and Argentine investors and markets.