Tuesday, December 22. 2020
SEC Establishes New Supervisory Cooperation Arrangement with CONSOB
The MOU enhances the ability of the SEC and of the CONSOB to coordinate with one another and share supervisory information that facilitates the respective cross-border examinations of regulated entities. Given the increasing globalization of the world’s financial markets and also the increase in cross-border operations and activities of regulated entities, the SEC and the CONSOB are expressing through this MOU their willingness to cooperate with each other in fulfilling their respective regulatory mandates and supervision of firms within the scope of the MOU. There is particular emphasis on the areas of: investor protection, promoting the compliance culture of regulated entities that operate on a cross-border basis, maintenance of fair, orderly and efficient securities and derivatives markets, and reducing systemic risk.
Sources:
SEC and CONSOB Sign New Supervisory Cooperation Arrangement (sec.gov)