The UK has signed a pact with the EU to increase co-operation on financial services.
It will set up a forum where the EU and UK can meet twice a year to discuss financial regulation and standards.
The long-awaited move is being seen as a sign the UK is willing to work more closely with the EU.
Chancellor Jeremy Hunt said building a constructive relationship was of mutual benefit, as the UK and EU financial markets were “deeply interconnected”.
The memorandum of understanding that is being signed was first outlined in the UK-EU Trade and Co-operation Agreement, in the wake of the UK losing unfettered access to EU markets under Brexit.
The text was published last month, and the memorandum itself amounts to a list of broad shared objectives.
Spokesperson for the European Commission, Daniel Ferrie said the move would “set up a forum to facilitate dialogue”.
