Best practice for IOSCO cooperation standards

Author: | Published: 28 Aug 2018

Hong Kong’s financial regulator has become one of the first signatories of IOSCO’s enhanced cooperation standards

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The Hong Kong SFC is one of the first signatories of IOSCO’s Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU), which provides additional enhanced information sharing and cooperation enforcement powers.

The EMMoU contains several key new powers, such as obtaining and providing financial papers, compelling a person’s physical attendance to provide a statement or testimony under oath, and requiring or requesting freezing of assets. The SFC's participation in the EMMoU is an important step for the SFC to continue its efforts in combating cross-border financial misconduct.

The Hong Kong Securities and Futures Commission (SFC) has become one of the first signatories of IOSCO's Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU).

The EMMoU...