While much has been written lately about the supposed ill effects that the current securities regulatory scheme in the United States has on market competitiveness, that isn't stopping securities regulators from approximately 70 countries from descending on Washington DC next week to learn about securities regulation, US Style, according to this State Department press release.

The program, known as the International Institute for Securities Market Development, brings together senior securities regulators from emerging or recently emerged market economies for lectures, panels and workshops on the development, operation and regulation of securities markets.

Later in the year, participants will have an opportunity to attend the International Institute for Securities Enforcement and Market Oversight. That program focuses on "practical techniques for conducting investigations, market surveillance and auditor oversight."

According to Robert M. Fisher, assistant director in the SEC's Office of International Affairs, "in today’s global economy it is common that crucial evidence of securities crimes committed in the United States is found abroad. Foreign regulators “often request our help and we often request their help.” This cooperation has resulted in hundreds of successful transborder investigations, according to Fisher.

The release also notes that:

The United States does not try to impose its own regulatory solutions on other countries . . . However, foreign regulators might find aspects of the U.S. model useful and implement them in their jurisdictions.

Thus:

To the extent that regulators around the world are sharing ideas and approaches to various challenges with one another, there is more likely to be long-term convergence in regulation, and that tends to reduce cost for investors, issuers and everybody in the market,

according to Ethiopis Tafara, director of the SEC's Office of International Affairs.

According to the State Department's press release, in 2006 alone, the SEC provided training for more than 1,000 securities regulators from 107 countries. The SEC's website indicates that regulators from five continents have participated in these programs.

OK, so assuming we are using the traditional seven continent model we were taught in elementary school, we can safely assume that Antarctica is NOT on the list, but what other continent has skipped out on this global securities regulation love in?