On Tuesday 2 February 2010, the Financial Services Authority (FSA) went to the Court of Appeal to seek clarification regarding its obligation to co-operate with the Securities and Exchange Commission (SEC). This comes as a result of a High Court judgment last year in favour of two companies which said that the FSA had overstepped its powers by carrying out a request from the SEC to recover certain documents. The decision by the Court should help to clarify the extent of the FSA’s powers in assisting an overseas regulator.
We will keep you updated on any developments here at www.insurereinsure.com.
