SEC and CESR chairmen meet

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18 Dec 2005

US Securities and Exchange Commission Chairman Christopher Cox met with Chairman Arthur Docters van Leeuwen of the Committee of European Securities Regulators (CESR) to discuss International Financial Reporting Standards and other potential agenda items for collaborative efforts in 2006. The chairmen expressed their support for continued close interaction to maintain and promote investor protection and market integrity in the transatlantic capital markets.

Chairman Cox also informed Chairman Docters van Leeuwen of the SEC's (PDF 56k), which the Commission earlier in the day had voted to publish for public comment. The on the meeting between the two chairmen states (PDF 33k):

In addition to reviewing IFRS reporting in their respective jurisdictions, potential collaborative efforts in 2006 include a review of the practical application of risk-based anti-money laundering procedures by securities firms and engaging relevant parties to consider the development of a common licensing exam for individuals who work in the international capital markets industry. The SEC and CESR staff also will exchange experiences regarding the use of IT systems to facilitate disclosure to investors and will focus on the use of interactive data in meeting disclosure requirements.

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