Tawian FSC Becomes Signatory to IOSCO MMoU
Financial Supervisory Commission (FSC) chairman Mr. Chen Yuh-Chang represented the FSC in signing the IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MMoU) on March 15, 2011. Including the FSC, there are 75 signatories to the IOSCO MMoU.
In response to increasing international activity in the securities and derivatives markets, and to strengthen information exchange and cooperation at both the global and regional levels, the IOSCO created the IOSCO MMoU in 2002 as a means of fighting against cross-border market misconduct and ensuring effective enforcement of the laws and regulations of the signatories. With the signing of the IOSCO MMoU, the FSC is now able to implement the matters authorized by law for cross-border supervisory cooperation including, among other things, information exchange and investigation assistance, with the other 74 signatories worldwide.
“IOSCO” is the acronym of the International Organization of Securities Commissions, an important global organization of securities market regulators from throughout the world. It aims to enhance investor protection and maintain fair, efficient and transparent markets through information exchange among its members, and through supervision of cross-border trade. The IOSCO also helps its members align their securities regulations with internationally recognized IOSCO standards, so as to strengthen and implement appropriate securities regulation in each member’s jurisdiction.