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 MAG’s primary focus in the 2026 year to date has been to help support and advance the work of the UK-US Transatlantic Taskforce for Markets of the Future (TTMF). We hosted a series of workshops with the UK and US Treasuries in January, to share our views on the priorities for the Taskforce. In February, a US MAG delegation met with then Economic Secretary Lucy Rigby KC MP and Miles Celic was the only overseas industry representative to be invited to the US Treasury for the workshops they hosted. TheCityUK returned to Washington DC in March and June to continue our representations to key US stakeholders – with a growing sense that our messages have been getting through.
In March, TheCityUK hosted Assistant Secretary Chris Pilkerton, who spoke to members about the US’s approach to investment screening. In June, his staff informed the visiting delegation that we would be invited to share our perspectives as part of a future consultation. We expect this to be launched over the summer and will reach out to members to solicit views. We continue to engage with the US Embassy in London, and in April the US Ambassador, HE Warren Stephens, addressed the TheCityUK’s International Conference.
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.