I will discuss the symmetries of maximal supergravity in a light-cone gauge formulation. In d=4 the dynamical part of the supersymmetry and the exceptional symmtery are both non-linearly realized on the light-cone superfield describing the dynamical degrees of the theory. I will then show that by going to d=11 we cannot realize the two symmetries in the same way on the superfield but have to have two different formulations to realize the two symmetries. I will argue that one can reach one formulation by a field redefinition from the other. I will then argue that the maximal supersymmetric theories have more symmetries than what meets the eye.
