Under the MOU, both regulators agree to facilitate exchange of information to ensure compliance with securities and futures laws of their respective countries. Among others, areas targeted for cooperation include action against insider dealing, market manipulation and other securities market-related fraudulent practices. The exchange of information also seeks to promote and secure fitness and properness of licensed persons and ensure compliance by issuers and their directors with rules and regulations in capital raising exercises. In essence, the signing of the MOU would help increase investor protection and promote the integrity of the securities, futures and options markets of the signatory countries.

The MOU was signed by the SC Chairman, Ali Abdul Kadir and the COB President, Mr Michel Prada in Paris, France.

This is the twelfth MOU that the SC has signed with its counterparts. The SC has earlier signed MOUs with market regulators in Argentina, Australia, Brazil, Chile, China, Hong Kong, Indonesia, Kenya, South Africa, Taiwan and Thailand.