On August 20, the UK Financial Services Authority (FSA) and the Commodity Futures Trading Commission announced an agreement designed to strengthen cross-border supervision of the energy futures markets.
The FSA and CFTC stated that they will immediately work together towards implementing strengthened surveillance over U.S.-linked energy contracts including, where appropriate:
- enhanced direct access rights to trade execution and audit trail data;
- mutual on-site visits to exchange operators;
- the sharing of exchange regulations and notices;
- the sharing of disciplinary notices; and
- coordination of emergency action.