The UK-US Transatlantic Taskforce for Markets of the Future

Notwithstanding some observers’ comments about its cost to the taxpayers, President Trump’s recent (and second) state visit has been hailed by the UK government as bringing £150bn of investment to the country.

The UK government was quick to point to Microsoft’s promise to invest USD 30bn over the next four years in (amongst other things) a new supercomputer. However, the visit also appears to have prompted longer-term and less ostentatious projects. On 22 September 2025, the UK’s HM Treasury and the US’s Treasury Department jointly announced the establishment of a “Transatlantic Taskforce for Markets of the Future” (the “Taskforce”).

The Taskforce will be chaired by officials from both departments and include representatives of regulators from both countries responsible for capital markets and digital assets, principally the FCA and the SEC.

The stated purpose of the Taskforce is, within 180 days, to “report back to both finance ministries, via the UK-US Financial Regulatory Working Group …, on recommendations to enhance collaboration on capital markets and digital assets and other innovative financial activities.” In particular, the Taskforce will consider (1) short-term collaboration on digital assets as markets develop (as well as longer-term opportunities for innovation in digital markets) and (2) options for improving links between UK and US capital markets, including reducing burdens on UK and US firms seeking to raise capital across borders.

The Taskforce is also supposed to consult with industry players.

It remains to be seen what impact this will have in the longer term but the direction of travel – towards increasing UK-US collaboration in regulating financial markets and increasing access to capital markets across the Atlantic – appears clear.

Simon Winter, Partner