SEC, FCA Sign Updated MOUs for Post-Brexit Cooperation

The U.S. Securities and Exchange Commission and the U.K. Financial Conduct Authority reaffirmed their commitment March 29 to continue close cooperation and information sharing in the event of the U.K.’s withdrawal from the European Union.

• SEC Chairman Jay Clayton met with FCA CEO Andrew Bailey and signed two updated memoranda of understanding (MOUs).
• The first MOU, from 2006, covers regulated entities that operate across national borders and was updated to include firms that conduct derivatives, credit rating, and derivatives trade repository businesses.
• The second MOU, from 2013 and required under U.K. Alternative Investment Fund Managers Regulations, was updated to ensure ...