Alert April 03, 2012

SEC Announces Memoranda of Understanding with Cayman Islands Monetary Authority and the European Securities and Markets Authority

The SEC announced that it has entered into a memorandum of understanding with the Cayman Islands Monetary Authority (CIMA) and a memorandum of understanding with the European Securities and Markets Authority (ESMA).  The two memoranda of understanding, which provide for consultation, cooperation and the exchange of information related to the supervision and oversight of cross-border regulated entities, follow on similar arrangements that the SEC has concluded with Canadian provincial securities regulators.