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SEC Dialogues with Foreign Regulatory Authorities
The SEC has several ongoing dialogues with key regulatory counterparts. The dialogues are intended to facilitate identification and discussion of common issues of regulatory concern, enhance enforcement cooperation, and in some cases, expand on existing training and technical assistance efforts.
The SEC and the Capital Markets Board of Turkey (CMB) announced in July 2011 a new relationship to enhance cooperation and collaboration with the aim of promoting investor protection, fostering market integrity, and facilitating cross-border securities activities between Turkey and the United States. As set out in the terms of reference, the Dialogue has three main objectives:
The SEC and the China Securities Regulatory Commission (CSRC) announced in May 2006 a dialogue to increase cooperation and collaboration. The dialogue has three primary objectives:
As set out in the terms of reference, the dialogue takes place through regular contacts among senior staff and between the Chairmen of the SEC and CSRC.
In addition to the US-EU Financial Markets Dialogue, the SEC created a framework for cooperation and collaboration with the European Securities and Markets Authority (ESMA). This Dialogue began with ESMA's predecessor, the Committee of European Securities Regulators (CESR). In 2004, the SEC and CESR announced creation of a Dialogue with two primary objectives:
The original SEC-CESR work plan outlines the primary discussion topics governing the current Dialogue with ESMA.
In January 2006, the SEC and the Japan Financial Services Agency (JFSA) announced terms of reference for increased cooperation and collaboration through a high level bilateral dialogue. This dialogue has two main objectives:
The dialogue consists of regular meetings and ad hoc information exchange at the staff level and between high-level representatives of the SEC and JFSA.
In June 2006, the SEC and the Korea Financial Supervisory Commission (KFSC) announced terms for regulatory dialogue between the two agencies. This dialogue has two main objectives:
The dialogue consists of regular meetings and ad hoc information exchange at the staff level and between high-level representatives of the SEC and KFSC, as well as the Korea Financial Supervisory Service (FSS), the implementing body of the KFSC.
In January 2008, the SEC and the Securities and Exchange Board of India (SEBI) announced a dialogue with three primary objectives:
The US-EU Financial Markets Dialogue (Dialogue) was launched in 2002 and includes representatives of the US Treasury, SEC, Commodity Futures Trading Commission and the Federal Reserve Board. The Dialogue serves as a forum for discussion of financial regulatory issues of mutual concern, including the spillover effects of domestic regulatory initiatives on foreign market participants. The Dialogue serves to enhance understanding of each other's system of regulation, and explore areas of regulatory cooperation and convergence in the development of high-quality regulation.
Other topics in International Regulatory Policy: