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08 July 2008

Federal Reserve and SEC issue memorandum of understanding


The MOU specifically covers bank holding companies and so-called Consolidated Supervised Entities that own securities firms.

SEC Chairman Cox and Fed Chairman Bernanke signed a memorandum of understanding that will deepen their information sharing and co0operation.
The MOU specifically covers bank holding companies and so-called Consolidated Supervised Entities that own securities firms.


“The MOU finalized between the SEC and the Federal Reserve is consistent with the long-term vision of Treasury's Blueprint for a Modernized Regulatory Structure and should help inform future decisions as our Congress considers how to modernize and improve our regulatory structure”, SEC Chairman Cox said.

 

The SEC recently entered into a similar MOU with the Commodity Futures Trading Commission.  An agreement between the SEC and the Department of Labor is anticipated later this summer

 

Press release

Memorandum of Understanding



© Federal Reserve


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