IOSCO completes global framework to fight against cross-border market abuse
22 January 2010
From IOSCO's eligible membership of 115 securities regulators, 96% now meet the requirements for becoming signatories to the Multilateral Memorandum of Understanding (MMoU), or have made the necessary commitment to seeking national legislative changes to allow them to do so in the near future.
The International Organization of Securities Commissions (IOSCO) has announced that it has achieved its goal, set in 2005, to have its eligible membership sign, or committed to sign, the Multilateral Memorandum of Understanding concerning Consultation, Cooperation and the Exchange of Information (MMoU)
The goal was achieved at the last meeting of the Chairs of the Executive, Technical and Emerging Markets Committees, at the conclusion of which the Conseil du Marché Financier ofTunisia was invited to become the latest full signatory to Appendix A of the MMoU. From IOSCO's eligible membership of 115 securities regulators, 96% now meet the requirements for becoming signatories to the MMoU, or have made the necessary commitment to seeking national legislative changes to allow them to do so in the near future.
The 64 full MMoU signatories can now request and share confidential information in the pursuit of cross-border securities offences. IOSCO's rigorous expert assessments found that these jurisdictions are fully compliant with the cooperation and enforcement requirements of the MMoU
© IOSCO
