CALGARY, June 16 /CNW/ - The Alberta Securities Commission (ASC) and the United States' (U.S.) Commodity Futures Trading Commission (CFTC) have signed a Memorandum of Understanding (MOU) to enhance cooperation and the exchange of information relating to the supervision of cross-border clearing organizations.
The MOU was signed by ASC Chair and Chief Executive Officer Bill Rice and CFTC Chairman Gary Gensler and took effect on June 10, 2010.
ASC Chair Bill Rice said, "This MOU creates a regulatory framework for the information exchange between our two agencies as part of our day-to-day supervision of our respective energy markets. The ASC already works very closely with the CFTC and this MOU will further facilitate that process by setting out the basis for our continued co-operation in this crucial area of clearing derivatives."
The MOU will help to ensure the sound oversight of clearinghouses providing services in both Alberta and the United States and also will help to promote financial integrity and appropriate customer protection in the global derivatives markets.
A copy of the Memorandum of Understanding can be found at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
For further information: For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488