CFTC and Canadian Authorities Sign MOU to Enhance Supervision of Cross-Border Entities

The CFTC announced that Acting Chairman Mark Wetjen and leaders of the Alberta Securities Commission ("ASC"), the British Columbia Securities Commission ("BCSC"), the Ontario Securities Commission ("OSC"), and the AutoritÉ des marchÉs financiers ("AMF") (collectively, "Canadian Authorities") entered into a Memorandum of Understanding ("MOU") regarding cooperation and the exchange of information in the supervision and oversight of regulated entities that operate on a cross-border basis in both the United States and Alberta, British Columbia, Ontario or QuÉbec.

According to the CFTC, the MOU reflects the CFTC and Canadian Authorities' willingness to cooperate in the interest of fulfilling their respective regulatory mandates regarding derivatives markets. The scope of the MOU includes markets and organized trading platforms, central counterparties, trade repositories, and intermediaries, dealers and other market participants.

Along with CFTC Acting Chairman Wetjen, the MOU was signed by Chairs William Rice (ASC), Brenda Leong (BCSC), Howard Wetston (OSC) and Louis Morisset (AMF).

See: MOU between CFTC and Canadian Authorities.Related news: CFTC and Monetary Authority of Singapore Sign MOU on Cross-Border Swaps Dealers (with Lofchie Comment) (December 27, 2013).