The Financial Services Authority (FSA) has signed an agreement with the US Securities and Exchange Commission (SEC) that will enable the industry regulators to exchange information on UK and US firms.
The memorandum of understanding was signed at the SEC’s headquarters in Washington by FSA chief executive John Tiner and SEC chairman John Cox. The arrangement will allow the agencies to freely exchange information collected on firms for supervisory purposes.
This arrangement builds upon the existing framework for exchanging information between our two institutions, when this is necessary, as part of our day to day supervision of firms operating in both the US and UK. We already work closely with the SEC; this MoU will facilitate that process by setting out the basis on which we will do this, Mr Tiner said.