The two regulators, meeting ahead of next week's G20 summit, where regulation of the financial industry will be high on the agenda, also agreed to identify a set of common data to collect from the hedge fund industry in order to be able to better monitor the risks involved.
The commitment to work together on hedge funds was the main outcome of a meeting between FSA chief executive Hector Sants and his counterpart at the SEC, chairman Mary Schapiro.
"The global crisis has underlined how intertwined financial markets and institutions are and regulators around the world have to work together to ensure appropriate oversight," said Mr Sants, calling the discussions with the SEC "valuable."
The pair also discussed the thorny subject of over-counter-derivatives and central clearing as well as corporate governance and compensation practices.
Both regulators are members of the Financial Stability Board, which earlier this week said it intends to submit guidelines to the G20 suggesting banks with low levels of capital should not be allowed to pay large bonuses.
Mr Sants also met with the head of the Commodities Futures Trading Commission, with which the FSA has agreed to share information on oil contracts.
