Financial services regulators in the United Kingdom and the United States have signed a regulatory co-operation agreement.
The Financial Services Authority and the Financial Industry Regulatory Authority announced Monday that they have entered into a memorandum of understanding to support more robust co-operation between them. The agreement will facilitate the exchange of information on firms and individuals under common supervision, support collaboration on investigations and enforcement matters, and allow further sharing of regulatory techniques, including approaches to risk-based supervision of firms.
The agreement was signed by Jon Pain, the FSA’s managing director of supervision and FINRA’s chairman and CEO, Richard Ketchum.
“To ensure consumer protection and market integrity in today’s global market, regulators must work together with key regulatory partners. Under this agreement, the FSA and FINRA will be able to share information more freely and expeditiously in support of the oversight of common firms and investigations into wrongdoing,” Ketchum said.
FSA and FINRA sign co-operation agreement
Regulators will be able to share information more freely
- By: James Langton
- September 20, 2010 September 20, 2010
- 11:32