The FSA has signed an agreement to share confidential information with US state regulators, in a deal the Americans say may be at the forefront of a trend towards collaborative regulation.
Under the memorandum of understanding, the FSA will share files with New Jersey's insurance commissioner, and assist with investigations of, and obtain information from, individuals or companies in the insurance business.
Commissioner Tom Considine said he expects agreements between regulators in the US and other nations will become more commonplace and more necessary, according to local news reports.
"It is becoming crucial that regulators cooperate across national and international boundaries," he said in a statement.
"We can better monitor international activities of insurance companies with this agreement so we can better leverage opportunities for growth in New Jersey and protect consumers more efficiently."
The agreement also states authorities will promptly respond to requests from one another regarding the safety, soundness, financial condition or insurance activities of a regulated entity or person, officials said.
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