CFTC and CONSOB Sign MOU for Supervision of Cross-Border Firms

CFTC and CONSOB Sign MOU for Supervision of Cross-Border Firms

Washington, DC (STL.News) The Commodity Futures Trading Commission and the Commissione Nazionale per le Società e la Borsa (CONSOB) today announced the signing of a Memorandum of Understanding (MOU) regarding cooperation and the exchange of information in the supervision and oversight of regulated firms that operate on a cross-border basis in the United States and in Italy.

Through the MOU, the CFTC and the CONSOB express their willingness to cooperate in the interest of fulfilling their respective regulatory mandates in the context of supervising firms within the scope of the MOU.  The MOU establishes a framework for cooperation, contemplates the sharing of information, and provides procedures for examinations.

“This MOU builds upon the longstanding cooperative relationship between the CFTC and CONSOB,” said CFTC Chairman Heath P. Tarbert.  “It will enhance our joint ability supervise those who operate in our respective derivatives markets.”

“I am pleased we have been able to agree to this MOU with the CFTC, which will support cross border supervision on the provision of investment services for the purpose of preserving the integrity of the market and protecting investors” added CONSOB Chairman Paolo Savona.

About Marty Smith 10908 Articles
Marty Smith is the Editor in Chief and a founder of STL.News,, and St. Louis Restaurant Review. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe. Additionally, Smith is responsible for building a network of aggregator sites to manage the content involving thousands of sources.