The US Securities and Exchange Commission (SEC) has established supervisory arrangements with financial regulators of the member states of the European Union (EU) and the European Economic Area (EEA) as part of long-term strategy to improve the oversight of certain entities in the asset management industry that operate across national borders.
The memoranda of understanding (MOUs) provide a framework for supervisory cooperation and exchange of information between SEC and the EU/EEA member state national regulators in the area of asset management.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
These MOUs were negotiated between the SEC staff and staff of the European Securities and Markets Authority (ESMA). ESMA negotiated the MOUs required under the EU Alternative Investment Fund Managers Directive on behalf of the EU/EEA member-states’ national regulators.
The MOUs were concluded with 25 EU and 3 EEA member-state regulators. The EU member-state regulators with whom the Commission signed MOUs are those from Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxemburg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Sweden and the UK. The EEA signatories to the MOUs are regulators from Iceland, Liechtenstein and Norway.
These supervisory cooperation arrangements are aimed at enhancing SEC staff’s ability to share information about certain entities in the asset management industry, such as investment advisers and investment fund managers.
Robert Fisher, acting director of the SEC’s Office of International Affairs, said: "Supervisory cooperation arrangements help the SEC and its counterparts cooperate and consult with each other regarding our oversight activities in ways that may help prevent fraud in the long term or lessen the chances of future financial crises."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
