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Screenshot of a breaking news alert e-mail from Q2 2017
The U.S. Commodity Futures Trading Commission (CFTC) announced today that its Chairman Timothy Massad has signed a Memorandum of Understanding (MoU) with three Canadian provincial securities regulators, regarding cooperation and the exchange of information in the supervision and oversight of regulated entities that operate on a cross-border basis in the United States and in Canada.
The MoUs extend a similar earlier agreement the CFTC signed in 2014 with Canada’s four largest regulators, in Ontario, Quebec, Alberta and British Columbia.
Chairman Massad signed the agreements with Peter Klohn, Chair of the Financial and Consumer Services Commission in New Brunswick; Roger Sobotkiewicz, Chairperson of the Financial and Consumer Affairs Authority of Saskatchewan; and Paul E. Radford, Chair of the Nova Scotia Securities Commission.
Unlike in the US, securities regulation is a provincial, not federal responsibility, resulting in each of Canada’s ten provinces having its own separate regulator.
The scope of the MoU includes markets and organized trading platforms, central counterparties, trade repositories, and intermediaries, dealers, and other market participants.
More on the CFTC MoU with Canadian securities regulators can be seen here.