On December 14, the Financial Services Authority announced that it has signed a Memorandum of Understanding (MoU) with the Italian regulator, Commissione Nazionale per le Società e la Borsa (CONSOB) following the merger of the London Stock Exchange Group plc and Borsa Italiana SpA (Borsa Italiana) on October 1, 2007. The MoU establishes the framework within which the FSA and CONSOB will cooperate in the oversight and supervision of the London Stock Exchange and Borsa Italiana.