IOSCO pushes cross-border cooperation on financial markets

Dhaka,  Sat,  23 September 2017
Published : 19 May 2017, 14:38:20 | Updated : 19 May 2017, 15:03:27
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IOSCO pushes cross-border cooperation on financial markets

IOSCO pushes cross-border cooperation on financial markets
FE Online Report
The members of the International Organisation of Securities Commissions (IOSCO) have approved the Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU).

The multilateral memorandum offers securities regulators new enforcement powers for responding to the challenges arising from recent developments in global financial markets, according to a press statement of the IOSCO.

Since its launch in 2002, the MMoU has provided securities regulators around the world with key tools to fight cross-border financial fraud and misconduct that can weaken global markets and undermine investor confidence. 

For 15 years, regulators have used the MMoU to help ensure effective global cooperation and strengthen international securities markets, the press statement added.

“Despite this vast success, securities markets have undergone sweeping changes in recent years, driven by things such as new technologies and regulation, and the growing role of market-based finance,” it added. 

These forces have spurred IOSCO to develop an enhanced standard on cross-border enforcement information exchange that goes beyond the MMoU and responds to recent market developments.

IOSCO is the international body that brings together the world's securities regulators and is recognised as the global standard setter for the securities sector. 

Bangladesh Securities and Exchange Commission (BSEC) is a member of the global organisation based in Madrid. 

 
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