The Berne Financial Services Agreement: New Opportunities for Swiss and UK Financial Institutions

After thorough negotiations, the Berne Financial Services Agreement (BFSA), also known as Mutual Recognition Agreement (MRA) has been signed on 21 December 2023 by the UK and Switzerland. It will be likely soon ratified. Setting a milestone in the mutual recognition of financial market regulation the BFSA opens and refreshes cross-border market access for financial institutions in each of the two countries. We explain the BFSA and how you can make the most of it for your business.