U.K. SEEKS MORE GLOBAL SECURITIES CO-OPERATION
Britain intends to negotiate further
agreements on international securities regulation to match
those now in force with the U.S. And Japan, government sources
said.
    The Department of Trade and Industry said earlier it had
concluded a memorandum of understanding with Japan's Finance
Ministry to swap supervisory and investigatory information.
    The agreement covers stocks, shares and government bonds,
but not commodity futures, whose regulation in Japan does not
come under the Finance Ministry. It therefore does not cover
some transactions on the London International Financial Futures
Exchange and the London commodities and metal exchanges.
    The DTI said it hoped to seek further understandings with
other countries which met in the U.K. Last December. The
meeting involved delegates from the U.K., Switzerland, the
U.S., Canada, Australia, Hong Kong, Japan, France, West Germany
and Holland.
    Government sources said the deal with Japan completes
arrangements linking Tokyo, the U.S. And London. A U.K.
Agreement with the U.S. Securities and Exchange Commission
(SEC) was signed last September.
    Today's agreement will deal with requests for information
on a "case by case" basis, U.K. Government sources said. It is
not legally binding and comes into force immediately.
 REUTER
