The UK's Financial Services Authority (FSA) announced on Monday that it has signed a Memorandum of Understanding (MoU) with the United States' Commodities and Futures Trading Commission (CFTC) to strengthen cooperation on the exchange of regulatory information, which will support cross-market surveillance operations.
The MoU was signed by Reuben Jeffrey III, CFTC chairman, and Callum McCarthy, FSA Chairman, at the 3rd IOSCO Technical Conference in London.
Callum McCarthy explained that:
"This agreement builds on and strengthens the existing regulatory framework for information exchange between our two institutions as part of our day to day supervision of our respective financial markets. We already work very closely with the CFTC and this MoU will further facilitate that process by setting out the basis for our continued co-operation in this crucial area."
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