U.S., Britain ‘near accord’
NZPA-Reuter Washington
The United States and Britain are near an agreement aimed at combating trading abuses in their securities and commodities markets, U.S. and British officials said.
Mary McCue, spokeswoman for the U.S. Securities and Exchange Commission, the federal agency which regulates U.S. securities markets, said the two nations were expected to reach an accord within 60 days. A spokesman for the British Embassy in Washington also confirmed that talks were continuing and
that an agreement was near.
Under the accord, the two nations would agree to co-operate when investigations of possible commodities or securities law violations led one country’s law enforcement authorities to the other’s borders.
The talks were sparked by Britain’s concern over a proposal that Congress grant the U.S. Commodities Futures Trading Commission the power to subpoena foreign citizens in their own countries in connection with investigations of fraud and other abuses.
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Press, 24 July 1986, Page 29
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149U.S., Britain ‘near accord’ Press, 24 July 1986, Page 29
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