Malaysian Securities Commission Establishes Cooperation With French Counterpart

Kuala Lumpur, 14 September 1999

The Securities Commission of Malaysia (SC) yesterday signed a Memorandum of Understanding (MOU) with its French counterpart, Commission des Opérations de Bourse (COB) to establish a framework for investigative assistance and mutual cooperation between the two parties. The MOU is timely in view of the increased need for closer cooperation and consultation between market regulators as a result of increasing cross border market activities.

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.


Issued on behalf of the Securities Commission. Members of the Press may contact Ann Teoh (603-654 8513) or Soh Beng Choo (603-654 8625) or fax. 603-651 5078 for assistance.

Background information:

The Securities Commission (SC), a statutory body reporting to the Minister of Finance, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Securities Industry Act 1983 and Futures Industry Act 1993.

More information about the SC is available on its homepage at
about the SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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