SEC and BaFin Sign Regulatory Cooperation Arrangement

The U.S. Securities and Exchange Commission (SEC) and the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) have signed a Memorandum of Understanding (MOU) setting forth a framework for consultation, cooperation and the exchange of information regarding the oversight of markets and the supervision of financial services firms. In the MOU, the SEC and the BaFin (the "Authorities") have expressed their willingness to cooperate with each other in the interests of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market integrity, and maintaining confidence and systemic stability.

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