SEC Chairman Mary Schapiro and senior SEC staff met today with Hector Sants, CEO of U.K.'s Financial Services Authority (FSA), and Martin Wheatley, MD of its conduct business unit, to discuss regulatory approaches to current issues.  This meeting is part of a regular, ongoing dialogue and informational exchange between the 2 regulators. At this latest dialogue, they exchanged views such topics as OTC derivatives, technology-driven trading strategies, market surveillance, and short selling, as well as the agencies’ respective participation in the Financial Stability Board and the International Organization of Securities Commissions. The SEC and FSA have long had a close relationship.  The SEC and the FSA’s predecessor agency first signed enforcement information-sharing arrangements in 1986.  More recently in 2006, the SEC and FSA executed a supervisory information-sharing memorandum of understanding ("MOU") in which the 2 regulators laid out how they would share information relating to the financial health and regulatory compliance of regulated entities operating in both countries.   [SEC PR 11-206, 10/13/11]