For Release: January 18, 2002
THE CFTC AND THE CHINA SECURITIES REGULATORY
COMMISSION SIGN MEMORANDUM OF UNDERSTANDING
Washington – The U.S. Commodity Futures Trading Commission (CFTC) and the China Securities Regulatory Commission (CSRC), the Chinese commodities regulator, today entered into a Memorandum of Understanding regarding futures regulatory cooperation, and the provision of technical assistance (MOU). CFTC Chairman James E. Newsome and Chairman Zhou Xiaochuan of the CSRC signed the MOU at CFTC headquarters in Washington, D.C.
According to the MOU, the CFTC and CSRC share the goal of building and maintaining open, efficient and financially sound futures and options markets and recognize that the development of effective domestic legal and regulatory structures is essential to market integrity and investor protection. Further, the CFTC and CSRC desire to establish a mutually acceptable basis for cooperation, consultation and the provision of technical assistance.
In commenting on the CFTC’s latest MOU, CFTC Chairman Newsome stated,
“By entering into this MOU our agencies are indicating their commitment to
the importance of market integrity and investor protection. We are pleased to share
our expertise and we look forward to a productive relationship.”
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