The Securities Commission has become one of only eight regulators approved to adopt an enhanced information sharing protocol developed by a global supervisory body.
Christina Rolle, the Securities Commission’s executive director, participated in the official signing ceremony for IOSCO’s upgraded agreement. This was held during IOSCO’s 44th annual general meeting in Sydney, Australia.
The information sharing agreement, known as the Enhanced Multilateral Memorandum of Understanding (EMMoU), goes beyond IOSCO’s existing information sharing agreement by including new provisions to keep pace with technological, societal and market developments. It also aims to boost investor and market protection through upgraded protection mechanisms.
According to IOSCO’s website, other early adopters and A.1 signatories to the EMMoU include the British Columbia Securities Commission; Securities and Futures Commission (Hong Kong); Ontario Securities Commission; Autorité des Marchés Financièrs (Quebec); Monetary Authority of Singapore; the Commodity Futures Trading Commission (US); and the Securities and Exchange Commission (US).
The EMMoU will make additional avenues available to regulators to aid the outcome of investigation and enforcement activity. IOSCO is the global body for securities regulators, of which The Bahamas is a member.
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