Financial regulators on Monday announced an information-sharing agreement aimed at better detecting potential risks to the U.S. financial system.
The pact between the Federal Reserve and the Securities and Exchange Commission should enhance regulatory cooperation between the two agencies, allowing them to better carry out their regulatory duties.
Under the agreement, the two agencies will share information and cooperate across a number of important areas of common interest, including anti-money laundering efforts, bank brokerage activities as well as on clearing and settling financial transactions conducted by both banks and investment firms.
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