The special relationship between the United Kingdom and the United States is stronger than the sceptics would lead you to believe – at least that is the case for the UK Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Co-operation between financial regulators is essential in the increasingly globalised financial services market for financial services. Much like the hurricane-inducing butterfly, pressing the enter key on a trade in one jurisdiction can result in effects on markets halfway across the world.
Nowhere is this more relevant than in the world’s two largest financial centres, New York and London. Whilst the cities might be some 3,600 miles apart with an ocean in between, with today’s technology, traders could not be closer if they were in adjoining rooms. It is therefore unsurprising to learn that the financial regulators on either side of the Atlantic have a long and well-established history of co-operation and collaboration.
To read the full article published in FT Adviser, please click here