Our US MAG is a cross-sectoral, senior practitioner body representing some of the largest financial institutions in the world with a presence in both the UK and USA. It provides thought-leadership and strategic direction for our policy and activity relating to UK-US financial and related professional services. It engages with government, regulators and industry at the highest levels in both the UK and US, to support and develop the ‘golden corridor’ of transatlantic financial services. It provides an umbrella for driving key projects that have the potential to create new and lasting opportunities for developing dialogue and business between the UK and US.
The US Technical Working Group
The US MAG is supported by the US Technical Working Group (USTWG) which is a senior level group of public and regulatory affairs specialists from the largest financial and professional services firms with an active presence in both the UK and the USA. It engages frequently with government and regulators in the both countries on a more granular level, shaping the development of new policies and supporting ongoing collaboration between industry and government, to meet the strategic objectives set by the USMAG and to support UK-US regulatory cooperation.
Priorities of the US MAG:
- Improved market access and interoperability of UK-US financial and related professional services regulatory frameworks. This will be achieved through engagement with the UK-US Financial Regulatory Working Group (FRWG) and direct advocacy with key decision makers in both markets.
- Delivering enhanced market access and increased exports and investment through input into UK-US trade dialogues, such as free trade agreement negotiations, highlighting the crucial role of financial services and influencing debates on wider trade issues of importance to our members.
- Driving further US investment into the UK through ongoing C-suite business engagements and supporting the UK Government’s investment attraction efforts.
- Achieving global outcomes on data, climate and financial services trade by cooperating with the US in plurilateral and multilateral spheres to advocate against protectionism, and push for improved market access and greater regulatory coherence and interoperability.
Recent work of the US MAG
The US Market Advisory Group and its Technical Working Group met in December 2024 to take stock of the US elections and recent nominations for key economic and financial positions in the Administration and regulatory agencies. The Group will be updating its priorities alongside our partners in the British America Finance Alliance (BAFA). The Group normally visits the US once every 12-18 months. Travel plans for 2025 are under discussion, with a senior delegation planning to visit the US in June 2025. We also have plans to continue to support the UK’s trade Memorandum of Understandings with key States, with possible Roundtables planned in Florida and Texas.
For more information about our US Market Advisory Group please contact us.
The rest of the Americas: Canada, Latin America and the Caribbean
We are currently exploring member interest in developing a dialogue with partners across the Americas, which includes Canada, Latin America and the Caribbean. The work on Canada is focused on bilateral and multilateral cooperation – including through the CPTPP which also incorporates several Latin American countries. Brazil will host COP30 in 2025, and we will be actively engaged in developing that agenda with contributions on sustainable finance.