On May 15, 2019, the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission announced that they entered into an Enhanced Multilateral Memorandum of Understanding Concerning Consultation and the Exchange of Information under the auspices of the International Organization of Securities Commissions, along with nine other international financial regulators.
Both the SEC and CFTC are already signatories to IOSCO’s predecessor memorandum of understanding with 121 other signatories. However, the Enhanced MMoU provides for significant enhancements in cross-border enforcement cooperation—including the ability to compel testimony outside of the United States—that, if widely adopted, could increase the signatory regulators’ abilities to undertake (and coordinate) multilateral cross-border investigations.
Click here, to continue reading on the Cleary Enforcement Watch blog.