Monday March 25 2013

News Source: Global Exchanges

Focus: Stock Exchange Regulation

Type: General




ASIC and its French counterpart the Autorité des Marchés Financiers (AMF) have signed an updated memorandum of understanding (MOU) facilitating information sharing and mutual assistance.

The MOU reaffirms the long-standing cooperative relationship between ASIC and the AMF, and replaces the 1995 MOU entered into by the predecessors to ASIC and the AMF, the Australian Securities Commission and the Commission des Opérations de Bourse, respectively.

Recognising the increasing international activity in financial markets, ASIC and AMF affirm their commitment to a close and constructive regulatory relationship. They will regularly consult and exchange information on the evolutions of their respective regulatory environment, cooperate in the supervision and oversight of dually regulated entities as well as in enforcement matters.

ASIC Chairman Greg Medcraft said: ‘The MOU formalises our mutual commitment to effective cross-border financial regulation, reduction of systemic risk, and the protection of investors and the integrity of markets.

‘It sets out a framework that supports consultation, cooperation and the exchange of information, as well as the identification, assessment and mitigation of emerging regulatory risks. It recognises the importance of enhanced collaboration and regulatory convergence in markets that are increasingly global in nature.

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