P. M. BRIEFING : SEC Sets Up Foreign Affairs Arm
The Securities and Exchange Commission today said it is creating a post to coordinate enforcement cooperation with foreign stock regulators.
SEC Chairman Richard C. Breeden announced the new post during a news conference to report on his recent meetings with securities regulators in France and the Netherlands.
The new Office of International Affairs will be headed by Michael D. Mann, now an associate director for international affairs in the SEC’s Enforcement Division.
Breeden said the new office, which will be responsible for negotiating formal cooperation agreements, known as memoranda of understanding, underlines “the very high priority” the SEC places on international coordination.
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