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ARTICLE · 01 SEPTEMBER 2008

SEC Signs First Mutual Recognition Agreement With Australian Authorities

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On August 25, 2008, the US Securities and Exchange Commission (SEC) entered into a mutual recognition arrangement with the Australian Securities and Investment Commission (ASIC) and the Australian Minister for Superannuation and Corporate Law.

United StatesFinance and Banking
Adriaen Morse
Adriaen Morse
Joseph Goldstein
Joseph Goldstein
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Originally published August 27, 2008

Keywords: SEC, mutual recognition agreement, Australian Securities and Investment Commission, ASIC, Superannuation and Corporate Law, securities markets, broker-dealer firms, Australian investors, Memoranda of Understanding, MOU, enhanced enforcement MOU

On August 25, 2008, the US Securities and Exchange Commission (SEC) entered into a mutual recognition arrangement with the Australian Securities and Investment Commission (ASIC) and the Australian Minister for Superannuation and Corporate Law. The bilateral mutual recognition arrangement is a first-of-its kind agreement under which the SEC and its Australian counterpart have agreed upon a protocol governing how certain Australian securities markets and broker-dealer firms may apply for exemptions to permit them to do business with investors in the United States. The protocol also contains a reciprocal mechanism

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