SEC & European Central Bank (ECB) Sign Memorandum of Understanding Regarding Cooperation with Respect to Security-Based Swap (SBS) Entities

August 16, 2021 – MOU for cooperation related to the supervision, enforcement, oversight of SBS entities. Aims to facilitate SEC oversight of SEC-registered SBS entities in EU member States. Follows SEC substituted compliance orders for French and German entities.

SBS Entity MOU: Agreement between SEC and ECB to consult, cooperate, exchange data in connection with supervision, enforcement, oversight of certain SBS dealers, major participants. For SBS dealers and major SBS participants registered with SEC, supervised by ECB that participate in EU single supervisory mechanism (SSM) bank supervision system. Future compliance orders for such firms in participating EU member States supported.

Effectiveness: New MOU between SEC and ECB related to SBS entities was executed August 16, 2021.

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