On Monday, June 4 the Treasury Board of Canada Secretariat and the U.S. Office of Information and Regulatory Affairs (OIRA) signed a Memorandum of Understanding regarding the U.S.-Canada Regulatory Cooperation Council (RCC). As part of this agreement, both countries reaffirmed their commitments to strong regulatory cooperation.

The RCC, a forum for resolving or reducing regulatory differences, was established in 2011 to help provide for a practical approach in aligning the Canadian and American independent regulatory systems in a cohesive, efficient manner.

The MOU stipulates further efforts toward regulatory alignment and strengthens the economic partnership between the two countries. The full text of the MOU can be found here.