Collaborative group work has been recognized as a way of fostering the development of metacognition and self-regulation. Moreover, it has been claimed that these regulatory processes have an interpersonal level in which the regulation of the activity is shared with others (Iiskala et al., 2004). There has also been a considerable body of research on talk within small groups in the classroom. This approach has built a considerable amount of research, given the demonstrated effect of certain types of talk on academic learning. However, very few studies look at both aspects of collaboration (Mercer, 2013). The present research aims to investigate the relationship between socially shared regulation of learning (SSRL) and type of talk. Two hundred and thirty-one groups of three students were videotaped solving a problem in collaboration. Videos were analyzed qualifying exploratory talk and two dimensions of SSRL: metacognitive regulation and symmetry and reciprocity. Results show that the dimensions of SSRL and quality of talk correlate significantly when the whole sample is considered. However, when the sample is segmented by age, differential patterns start to emerge. Theoretical, methodological, and practical implications are discussed.