In a speech by SEC Commissioner Elisse B. Walter, the SEC, apparently, is indicating a significant shift in its view of cross-border cooperation. 

Over many years, the SEC has been viewed as the nearly primary global regulator of the securities markets.  Although this sentiment is not always shared by our brethren overseas, it has been, frankly, a fact. 

However, Commissioner Walter’s speech indicates that the SEC is shifting this perspective in noting that it has enforcement sharing agreements with more than 80 jurisdictions and that it regularly shares information across borders.  Although these sharing agreements are not new, the juxtaposition of them with the SEC’s work across borders presents a new format.  Essentially, Commissioner Walter was arguing that the SEC has rejected the belief it should solely act as a regulatory sovereign, embracing cooperation on many different levels across many different jurisdictions. 

In sum, the SEC’s approach seems to be that regulators should be connected and open in an effective manner.  Thus, this interconnection would be permit for a hightened regulation and ability to ensure continuing efforts to monitor the markets.