(ANSA) - MILAN, 22 DEC - The National Commission for Companies and the Stock Exchange (Consob) and the Securities and ExchangeCommission (Sec) have signed a Memorandum of Understanding for consultation, cooperation and exchange of information on supervised entities that carry out activities and services financial institutions in Italy and / or the United States.
This was announced in a joint press release, specifying that the Memorandum of Understanding "strengthens the ability of Consob and the Sec to consult and coordinate, as well as share supervisory information, and facilitates the relevant cross-border investigations on supervised entities".
"Supervision and supervision on a cross-border basis are of prime importance for the work of the financial market authorities and this represents an important step forward."
This is how the president of Consob, Paolo Savona, comments on the Memorandum of Understanding (MoU) signed with the US Sec.
According to SEC chairman Jay Clayton "this Memorandum of Understanding confirms the importance of cross-border collaboration in supervising the respective supervised entities. They will benefit from effective cooperation both our financial markets and investors."
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