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FSA links up with US independent watchdog Finra

The FSA has agreed to cooperate with independent US securities watchdog the Financial Industry Regulatory Authority over policing the world’s biggest securities firms and markets.

A statement by the FSA says the organisations have entered into a memorandum of understanding over greater information sharing on companies and individuals.

Finra is a private body in the US that regulates the securities industry, including stock exchanges and stockbrokers, and advises the US Securities and Exchange Commission.

The FSA and Finra will also share regulatory techniques including combined approaches to risk-based supervision of firms.

FSA managing director of supervision John Pain and Finra chairman and chief executive officer Richard Ketchum co-signed the agreement.

Pain says: “Given the linkages between our markets, it is vital that both regulators cooperate closely with each other.”

Ketchum adds: “To ensure consumer protection and market integrity in today’s global market, regulators must work together with key regulatory partners. Under this agreement, the FSA and Finra will be able to share information more freely and expeditiously in support of the oversight of common firms and investigations into wrongdoing.”



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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Fact Finding Trips to disney land included !

  2. One wonders if Finra saw what was coming in 2007/08 and warned the SEC accordingly. If it did, then about as much notice of that warning was taken as was taken of the people over here who tried to warn the Treasury and the FSA that a mighty blow-up was brewing ~ namely none at all. Do they have an RDR in the US?

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