The FSA have signed a Memorandum of Understanding with FINRA, the largest independent regulator for all securities firms doing business in the US. The MOU is now effective and provides a ‘formal basis for co-operation, including the exchange of information and investigative assistance’. The two regulators believe that the result will be more effective performance of their respective functions, allowing them to oversee the world’s largest securities firms and markets. Requests for information on firms and individuals under common supervision will be possible, as will stronger collaboration on enforcement matters. Regulatory techniques and approaches to risk based supervision may also be shared to ensure consumer protection and market integrity.