The US Securities and Exchange Commission (SEC), the US Commodity Futures Trading Commission (CFTC), and the Jersey Financial Services Commission (FSC) have signed a Memorandum of Understanding to establish a framework for information sharing and cooperation in cross-border investigations of potential violations of securities and futures laws.
The MOU reflects the strong commitment of each authority to combat cross-border fraud by providing cooperative assistance in securities and commodity futures matters under the laws of the United States and Jersey.
Harvey Pitt, SEC chairman, says: "The new legislation adopted in Jersey significantly expands the Jersey Financial Services Commission's ability to obtain information and to share that information with foreign authorities. The MOU, coupled with the new legislation, strengthens our relationship with the Jersey FSC and enhances our efforts to enforce domestic laws in a cross-border environment."
General Pratt, FSC director, comments: "This MOU is a demonstration of mutual confidence between the US regulators and the Jersey FSC together with a determination to work together to protect investors and to secure clean and transparent markets that are free from abuse."