SIFMA-BAFA Statement on US-UK Trade Agreement

Washington, D.C., May 8, 2025 – The British American Finance Alliance, which SIFMA’s President and CEO, Kenneth E. Bentsen, Jr., co-chairs with Chris Hayward, Deputy Chair, TheCityUK Board and Policy Chairman of the City of London Corporation released the following statement regarding the Trump Administration’s announcement of a trade agreement with the UK:

“This is a landmark trade agreement, and we congratulate both sides on delivering a package that will help strengthen the transatlantic relationship, of which financial and related professional services are a critical part. We encourage the U.S. and UK authorities to continue to work together to broaden and deepen this agreement and believe our unique partnership in financial and related professional services would benefit from closer alignment in technological innovation and other areas.”

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Notes to Editors:

[1] British American Finance Alliance, ‘Scoping paper on formalizing UK-U.S. regulatory dialogue’, September 2020

SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development.  SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).

The British American Finance Alliance (BAFA) is a coalition of 21 British and American trade associations and industry bodies representing both financial and professional services. It was formed in September 2018 as the UK-U.S. Financial and Related Professional Services Industry Coalition to ‘actively contribute to the overall trade and investment discussions between the UK and U.S. and offer specific industry input on issues such as the process underpinning the regulatory dialogue and its substantive priorities.’ BAFA day to day operations are co-supported by the Securities Industry & Financial Markets Association (SIFMA) and TheCityUK (TCUK).

Members of BAFA: Alternative Investment Management Association (AIMA), American Council of Life Insurers (ACLI), American Property and Casualty Insurance Association (APCIA), Association of British Insurers (ABI), Association of Chartered Certified Accountants (ACCA), Association for Financial Markets in Europe (AFME), Bankers Association for Finance and Trade (BAFT), Bank Policy Institute (BPI), British American Business (BAB), City of London Corporation, Coalition of Service Industries (CSI), Institute of Chartered Accountants in England and Wales (ICAEW), Investment Association (IA), Investment Company Institute (ICI), London Market Group (LMG), Managed Funds Association (MFA), Re-Insurance Association of America (RAA), Securities Industry & Financial Markets Association (SIFMA), TheCityUK (TCUK), The Law Society of England and Wales, US Chamber of Commerce (USCC), UK Finance.