US and French Regulators Agree to Share Information on Investment Firms

The US Securities and Exchange Commission (SEC) and France’s financial markets regulator have signed an agreement to strengthen information-sharing and supervisory cooperation over investment firms operating across the two markets.

The memorandum of understanding establishes a framework for consultation and information exchange concerning investment advisers, investment companies and investment service providers regulated by either authority.

The arrangement will facilitate the registration and supervision of French asset management companies seeking to operate in the US as investment advisers. The SEC said it would process new and pending registration applications from asset management companies supervised by France’s Autorité des Marchés Financiers (AMF) under the new framework.

SEC Chairman Paul S. Atkins said the agreement would support cross-border regulatory cooperation while helping expand opportunities and protect investors in global markets.

AMF Chair Marie-Anne Barbat-Layani said the agreement reflected a shared commitment to developing capital markets, safeguarding the financial system and ensuring effective investor protection.

The agreement provides a formal basis for the two regulators to cooperate on firms operating across the US and French markets, where oversight may involve either authority.

Source: FSX Business News