SEC signs protocols for sharing information on IAS

24 May 2008

The SEC signed protocols to share information on the application of IFRS with financial regulators in four European countries. The SEC anticipates signing additional protocols with other CESR member jurisdictions in the future.

The SEC signed protocols to share information on the application of IFRS with financial regulators in four European countries, namely Belgium, Bulgaria, Norway and Portugal in line with the Work Plan agreed with CESR.

 

The protocols provide for the confidential exchange of issuer-specific information. The Commission anticipates signing additional protocols with other CESR member jurisdictions in the future.

 

“These four new international protocols add to the arrangements that the SEC has concluded within the last year alone with the College of Euronext Regulators, the German Federal Financial Supervisory Authority, the United Kingdom Financial Services Authority and the UK Financial Reporting Council”, SEC Chairman Christopher Cox said. “International arrangements of this kind are quickly becoming a cornerstone of U.S. securities regulation in today's global marketplace.”

 

Press release

Protocols concluded today:

Banking, Finance, and Insurance Commission of Belgium

Financial Supervision Commission of the Republic of Bulgaria

Financial Supervisory Authority or Kredittilsynet of Norway

Comissao do Mercado de Valores Mobiliarios of Portugal

 

Protocol signed with UK Financial Reporting Council and UK FSA

Work Plan between SEC and CESR

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