U.S., Canadian rail regulators sign MOU

[Editor's note: This story has been updated to include a link to the MOU.]

The U.S. Surface Transportation Board (STB) and Canadian Transportation Agency (CTA) will share information under a new memorandum of understanding (MOU) signed yesterday.

STB Chairman Daniel Elliott III and CTA Chairman and Chief Executive Officer Scott Streiner signed the pact to promote ongoing information exchanges on developments in rail transportation, best practices in their respective regulatory approaches and recent regulator activities and current events, STB officials said in a press release.

The agencies will exchange only information that is in the public domain to ensure no confidentiality concerns are breached, officials said.

"It is an honor ... to be signing this memorandum of understanding between the STB and the CTA, marking our commitment to be a resource to each other in the economic regulation of freight railroads," said Elliott. "This friendship will enable us both to engage in productive dialogue on better regulatory practices to our stakeholders and the citizens of our countries."

The CTA is the economic regulator of freight railroads and other modes of transportation in Canada.