FSA and FINRA Sign Co-operation Agreement

The Financial Services Authority (FSA) and the US Financial Industry Regulatory Authority (FINRA) have entered into a memorandum of understanding (MOU) to support more robust co-operation between the two regulators.

The MOU establishes a strong framework for enhancing the ability of the FSA and FINRA to oversee the world’s largest securities firms and markets. 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.

Jon Pain, FSA’s managing director of supervision, said: “Given the linkages between our markets, it is vital that both regulators co-operate closely with each other. This MOU will enhance the supervision of firms and financial markets in both the UK and the US.”


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