[ by Howard Haykin ]

Last month, FINRA Chairman and CEO Richard 'Rick' Ketchum and Ronald Gerritse, Chairman of the Executive Board of the Netherlands Authority for the Financial Markets ("AFM") entered into a memorandum of understanding ("MoU").   The agreement is to share information with a view to strengthening and improving cooperation.  The memorandum establishes a formal basis for cooperation between FINRA and the AFM, which enables both to more effectively conduct their oversight of regulated markets and financial firms.

"The AFM supervises the honest and efficient operation of the capital markets. Targeting possible market abuse is one of our main objectives. I consider the signing of this MoU as an important initiative to strengthen our supervisory cooperation, which is important for effective international oversight." -- Ronald Gerritse.
 

"This agreement with the AFM strengthens our cooperation with The Netherlands in key areas, including investigations and market surveillance. Surveillance and transparency are more important than ever and demand close cooperation between regulator.  I welcome this agreement and look forward to a long and productive partnership with the AFM."  -- Richard Ketchum.
 

Two Main Objectives of the MoU.  

• to organize the transmission of information between authorities re: market surveillance and investigations into market abuse;
• to facilitate the sharing of information on trading by firms coming within the 2 authorities' respective jurisdictions.

The agreement also will allow AFM and FINRA to keep each other informed about practices in their markets and about issues concerning financial markets in general.   [FINRA News Release, 11/6/12]