The MoU sets up a framework for FINRA and the OSC to oversee securities firms and markets.
The deal provides the sharing of information on firms and individuals under common supervision, supports collaboration on investigations and enforcement matters, and provides a more complete view of market activity.
FINRA chairman and CEO Richard Ketchum said as regulators, their shared mission is to ensure investor protection and market integrity in today’s global market. FINRA and OSC have long shared a regulatory partnership and under this formalized agreement, they will be able to share information more freely and expeditiously.
OSC chairman Howard Wetston said cross-jurisdictional regulatory coordination is essential for protecting investors in today’s global marketplace. This framework acknowledges the interconnectedness of their markets and represents their commitment to working collaboratively with their international regulatory partners to address threats to investors and markets.
The MoU is subject to approval by the Ontario Minister of Finance in Ontario.
