SEC Chairman Christopher Cox met on Friday with Callum McCarthy, Chairman of the UK's Financial Services Authority. They discussed cross-border mergers, the flow of capital between the U.S. and U.K., common regulatory issues, and areas of future discussion.
Specific topics of discussion in Friday's meeting included:
1. interactive reporting;
2. crisis management to allow the two nations to repond quickly to a financial crisis;
3. hedge fund and fund adviser regulation; and
4. transnational ownership of stock exchanges.