Briefly noted

▪ US and UK regulators met at the beginning of June to discuss the regulatory implications of capital flows between the two nations. The Securities & Exchange Commission and the Financial Services Authority discussed the impact of cross-border mergers of stock exchanges, co-operation in a financial crisis and the activities of hedge funds. The two regulators plan to meet again to discuss the issues before the end of the year. John Tiner, chief executive of the FSA, said the discussion on the regulation of trading platforms and hedge funds “are clearly areas of high priority for regulation, and we made good progress in developing a shared understanding of the issues and how to approach them”.