Wednesday, 24 August 2016
Last updated 19 hours ago
Feb 2 2010 | 8:50am ET
U.S. and British regulators yesterday agreed to expand their cooperation on hedge fund oversight.
The fifth “strategic dialogue” between the Securities and Exchange Commission and Financial Services Authority produced a deal to expand a 2006 memorandum of understanding on consultation, cooperation and information exchange. The two sides agreed to increase their cooperative efforts on hedge fund adviser surveillance, as well as that over credit ratings agencies and derivatives clearing.
“Global cooperation between regulators is central to tackling the reform agenda and the relationship between the FSA and the SEC is key for international markets,” FSA CEO Hector Sants said. “Our ongoing dialogue gives us the opportunity to widen the areas of cooperation between the FSA and the SEC, in particular progressing our collaborative work on hedge funds and credit rating agencies.”
In addition to the agreement on greater cooperation, Sants, FSA Chairman Adair Turner and SEC Chairman Mary Schapiro also discussed hedge fund regulation, among other issues.