Securities Commission establishes cooperation with its Taiwanese and Brazilian counterparts

Kuala Lumpur, 10 November 1997

The Securities Commission of Malaysia (SC) recently signed separate Memoranda of Understanding (MOU) with its counterparts in Taiwan and Brazil. The MOUs were signed between the SC and the Securities and Futures Commission of Taiwan (SFC) and Comissao de Valores Mobiliarios of Brazil (CVM) to establish a framework for assistance and mutual cooperation between the parties involved.

Under the MOUs, the parties also agree to facilitate exchange of information in ensuring compliance with the securities and futures laws of their respective countries.

The signing of the MOUs would help increase investor protection and further promote the integrity of the securities, futures and options markets of the signatory countries. In view of the rising volume of trade and investment between Malaysia and the two countries, it has become necessary for their regulatory authorities to coordinate efforts to ensure sufficient safeguards for the investments.

SC Chairman Dato' Dr. Mohd Munir Abdul Majid said the memoranda of understanding underpins the bilateral commitment that has been expressed many times multilaterally at international fora.

"With increasing globalisation and integration of financial services markets, the Securities Commission of Malaysia joins other regulatory authorities in committing itself on a bilateral basis to cooperating on enforcement matters and sharing of information with its fellow regulators," said Dato' Munir.

Chairman Daung Yen Lu of the Chinese Taipei SFC said that memoranda such as the one signed with Malaysia highlights the close working relationship that regulators have across jurisdictions.

"There is a need for close working relationship between regulators to ensure discipline across borders so that every one prospers," said Chairman Lu.

The signing ceremonies took place during the 22nd Annual Conference of the International Organisation of Securities Commissions (IOSCO) held in Taipei from Nov 2-7.

The SC-SFC MOU was the 18th MOU to be signed by SFC and the ninth for SC. The MOU with CVM is the first with a securities regulator from South America.


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