City of London Corporation responds to new US-UK Data Agreement
Chris Hayward, Policy Chairman of the City of London Corporation, said:
“This new UK-US data agreement will be of huge benefit to the UK economy. The free flow of data is vital for the UK’s financial service exports and by default to our customers and clients around the world. The US is by far our largest trading partner and this new agreement could be worth over £60bn in exports from the UK.
“The City Corporation has been very active in promoting regulatory corporation with the US and we hope this agreement is a first step towards closer cooperation between the regulators and greater ability to share information between the markets. Firms’ ability to sell services internationally is also a key engine of jobs, growth and investment.”
Notes to editors
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk