November 28, 2012
TOKYO and WASHINGTON — The U.S. Financial Industry Regulatory Authority (FINRA) and Japan Securities Dealers Association (JSDA) have entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators.
The MOU establishes a strong framework for enhancing the ability of FINRA and JSDA to oversee the world's largest securities markets, as well as firms that operate in both the United States and Japan. The agreement will facilitate the exchange of information on regulatory matters and allow further sharing of regulatory techniques.
The agreement was signed by Richard G. Ketchum, Chairman and CEO of FINRA, and Tetsuo Mae, Chairman of JSDA.
Mr. Ketchum said, "FINRA has had close ties with the JSDA for many years, but our MOU will permit the sharing of information on key matters more quickly and at a deeper level. Both FINRA and the JSDA have much in common, and we appreciate the strong relationship between our organizations. The MOU helps both FINRA and JSDA ensure market integrity and protect investors."
Mr. Mae added, "Self-regulatory organizations including FINRA and JSDA assume important responsibilities to ensure investor protection and market integrity in the markets under their competence. In order to fulfill those responsibilities, it means much to both FINRA and JSDA to exchange information in a timely manner and to have a framework to respond quickly and jointly to any issues that may arise in the market. In this sense, this MOU will further enhance our long-lasting cooperation and bring about even more effective interaction."
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