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mutual recognition August 25, 2008

Posted by Bradley in : Uncategorized , trackback

The Australian Government, ASIC and the SEC today announced the signing of a mutual recognition agreement under which each of the two regulators will consider providing exemptions to broker-dealers and exchanges regulated in the other jurisdiction. SIFMA gave the announcement a cautious welcome:

SIFMA will provide more detailed comments on the mutual recognition proposal once the new framework has been analyzed by the industry.

SIFMA has some concern that this initiative might undermine the proposals for a more general relaxation of the conditions under which foreign broker-dealers interact with US persons.


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