News & Events

November 18, 2011

FINRA and Ontario Securities Commission Sign
Regulatory Cooperation Arrangement

WASHINGTON and TORONTO – The Financial Industry Regulatory Authority (FINRA) and the Ontario Securities Commission (OSC) today announced they have entered into a Memorandum of Understanding (MOU) that will facilitate the exchange of information with respect to regulated entities that operate across the U.S.-Canadian border.

Richard Ketchum, FINRA’s Chairman and CEO, and Howard I. Wetston, Q.C., Chair of the OSC, executed the MOU, which provides a clear mechanism for consultation and cooperation between FINRA and the OSC. The MOU was signed in Toronto on Nov. 10, 2011, and establishes a strong framework to enhance the ability of the OSC and FINRA to oversee securities firms and markets. The arrangement will facilitate the exchange of information on firms and individuals under common supervision, support collaboration on investigations and enforcement matters, and provide a more complete view of market activity.

Mr. Ketchum said, "As regulators, our shared mission is to ensure investor protection and market integrity in today's global market. FINRA and OSC have long shared a regulatory partnership and under this formalized agreement, we will be able to share information more freely and expeditiously."

Mr. Wetston said, "Cross-jurisdictional regulatory coordination is essential for protecting investors in today's global marketplace. This framework acknowledges the interconnectedness of our markets and represents our commitment to working collaboratively with our international regulatory partners to address threats to investors and markets.”

In Ontario, the MOU is subject to approval by the Ontario Minister of Finance.

FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, see

The OSC is the regulatory body responsible for overseeing Ontario’s capital markets. The OSC administers and enforces Ontario’s securities and commodity futures laws. Its mandate is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. For more information, please visit

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For additional information on the MOU, contact:

Michelle Ong
(202) 728-8464

Wendy Dey
Ontario Securities Commission