By Edith Orenstein, FEI Financial Reporting Blog - The Memorandum of Understanding (MOU) aimed at coordinating supervision and examination (MOU-SE?) of financial institutions being worked out between the Federal Reserve and SEC, is reportedly close to being issued, according to recent comments of SEC Chairman Christopher Cox.
Earlier today (June 27) Sen. Chris Dodd and Sen. Richard Shelby, Chairman and Ranking Member of the Senate Banking Committee, sent a letter to the Chairmen of the SEC, Fed and Treasury, recognizing the agencies’ efforts to streamline and improve regulation, but issuing a cautionary note.
In other news, the Senate confirmed the three nominees for SEC commissioner.
Read more about these developments here.