FINRA and NFA recently held a special summit focused on crypto assets and agreed to expand their Memorandum of Understanding (MOU) to address crypto activities that fall within their respective regulatory mandates.
During the day-long summit held at FINRA’s San Francisco office, crypto and blockchain experts from both organizations met to share regulatory intelligence and ways to leverage new technology. FINRA and NFA also discussed the importance of investor protection, as well as potential risks, reporting and supervisory obligations associated with crypto-related activities.
The meeting culminated in an agreement to expand the existing MOU to address information sharing and collaboration regarding crypto assets, blockchain technology developments and crypto asset regulatory risks.
“We are excited to build on our strong relationship with our colleagues at NFA in finding new ways to benefit from one another’s deep expertise,” said Greg Ruppert, Executive Vice President, Member Supervision at FINRA. "Maintaining effective regulatory partnership and information sharing across various products and asset classes helps each of our organizations better serve the investing public.”
"NFA looks forward to collaborating with FINRA as the crypto market continues to evolve," said Regina Thoele, Senior Vice President, Compliance at NFA. "By leveraging our shared expertise, we can continue enhancing our investor protection efforts in light of market developments."
