Newfoundland and Labrador is the latest Canadian jurisdiction to sign a cross-border co-operation agreement with the U.S. Commodity Futures Trading Commission (CFTC).
The CFTC announced that it has signed a memorandum of understanding (MOU) with the Superintendent of Securities for Newfoundland and Labrador. The MOU sets out the terms co-operation and the exchange of information in the supervision and oversight of regulated firms that operate on a cross-border basis in the U.S. and in Canada.
The agreement covers the oversight of markets, trading platforms, central counterparties, trade repositories, intermediaries, dealers and other market participants. It also includes an expression of a willingness to co-operate between the authorities.
Newfoundland and Labrador is the latest province to join the cross-border co-operation agreement, which was originally executed in 2014 between the CFTC and the regulators in Alberta, British Columbia, Ontario and Quebec. Since then, New Brunswick, Nova Scotia, Saskatchewan, Prince Edward Island and the territories have all signed on.