The Securities and Exchange Commission today signed protocols to share information on the application of International Financial Reporting Standards (IFRS) with financial regulators in four European countries.
The arrangements with regulators in Belgium, Bulgaria, Norway and Portugal are in line with the Work Plan previously agreed to between the SEC and the Committee of European Securities Regulators (CESR).
The most recent protocols follow on one signed recently with the UK Financial Reporting Council and the UK Financial Services Authority. The protocols are based on a model protocol developed between the Commission and CESR and provide for the confidential exchange of issuer-specific information. The Commission anticipates signing additional protocols with other CESR member jurisdictions in the future.
These protocols join the growing list of arrangements for regulatory, enforcement and supervisory cooperation between the Commission and its foreign counterparts.
See full Press Release.
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