AFM and FINRA sign MoU on Financial Market Surveillance and Supervision

In October 2012 Richard G. Ketchum, Chairman and CEO of the FINRA and Ronald Gerritse, Chairman of the Executive Board of the AFM signed a memorandum of understanding (MoU) on information-sharing with a view to strengthening and improving cooperation. The memorandum establishes a formal basis for cooperation among FINRA and the AFM to more effectively conduct their oversight of regulated markets and financial firms.

Commenting, Ronald Gerritse said: “The AFM supervises the honest and efficient operation of the capital markets. Targeting possible market abuse is one of our main objectives. I consider the signing of this MoU as an important initiative to strengthen our supervisory cooperation which is important for effective international oversight."

“This agreement with the AFM strengthens our cooperation with The Netherlands in key areas, including investigations and market surveillance.  Surveillance and transparency are more important than ever and demand close cooperation between regulators," said Ketchum. “I welcome this agreement and look forward to a long and productive partnership with the AFM."

The MoU has two main aims:

  • To organize the transmission of information between authorities regarding market surveillance and investigations into market abuse; and 
  • To facilitate the sharing of information on trading by firms coming within the two authorities' respective jurisdictions.

The agreement will also allow the AFM and FINRA to keep each other informed about practices in their markets and about issues concerning financial markets in general.

FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and firms. For more information, please visit

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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