Leaders of the U.S. Commodity Futures Trading Commission (CFTC) and U.K. Financial Services Authority (FSA) yesterday met and signed a new Memorandum of Understanding (MOU) to enhance cooperation and the exchange of information relating to the supervision of cross-border clearing organizations.
The MOU is an important step in ensuring the sound oversight of clearing houses providing services in both the United States and the United Kingdom and will help promote market integrity and appropriate customer protection in the global derivatives markets.
The MOU was signed by CFTC chairman Gary Gensler and FSA chief executive Hector Sants at a meeting in Washington yesterday and took effect immediately.
