AMF and FINRA Sign MoU on Financial Market Surveillance and Supervision.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Richard G. Ketchum, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Financial Industry Regulatory Authority Not to be confused with NASD. In the United States, the Financial Industry Regulatory Authority (FINRA) is a new self-regulatory organization (SRO) under the Securities Exchange Act of 1934, successor to the National Association of Securities Dealers, Inc. (NASD). (FINRA FINRA Financial Industry Regulatory Authority (formerly Securities Industry Regulatory Authority) ), and Jean-Pierre Jouyet Jean-Pierre Jouyet (born February 13, 1954) is a French politician. After having graduated from the prestigious Institute for Political Science (Institut d'études politiques, IEP, otherwise known as Sciences Po), and later from Ecole Nationale d'Administration (ENA), he worked , Chairman of the Autorite des marches financiers (AMF AMF ACE (Allied Command, Europe) Mobile Force AMF Autorité des Marchés Financiers (French) AMF Action Message Format AMF Arab Monetary Fund AMF Asian Monetary Fund AMF Autocrine Motility Factor ), signed on 19 October 2009 a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) on information-sharing with a view to strengthening and improving cooperation in the surveillance and supervision of the markets under their jurisdictions. The memorandum establishes a formal basis for cooperation among FINRA and the AMF in order to more effectively conduct their oversight of regulated markets and financial firms. FINRA is the self-regulatory organisation responsible for regulating and overseeing broker-dealers in the United States and for supervising a number of markets. Commenting, Jean-Pierre Jouyet said: "I welcome this agreement with FINRA Chairman and CEO Richard G. Ketchum, which strengthens our cooperation with the United States in the field of investigations and market surveillance. Surveillance and transparency are more important than ever and demand close cooperation between regulators". "We are very pleased to sign this Memorandum of Understanding with the AMF," said Ketchum "Both FINRA and the AMF share significant common ground in our mission to protect investors and ensure the integrity of capital markets. In today's global environment, international regulatory cooperation is more important than ever. We look forward to a long and productive partnership with the AMF." The MoU has two main aims: * organise the transmission of information between authorities regarding market surveillance and investigations into market abuse; * facilitate the sharing of information on trading by firms coming within the two authorities' respective jurisdictions. The agreement will also allow the AMF and FINRA to keep each other informed about practices in their markets and about issues concerning financial markets in general. |
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