IOSCO Marks 10th Anniversary of Multilateral MOU by Carrot and Stick Approach to Non-Signatory Countries

On May 12, 2012, at the annual conference of the International Organization of Securities Commission (IOSCO) in Beijing, IOSCO marked the 10^th anniversary of the Multinational Memorandum of Understanding (MMoU) by saluting four new signatories and adopting a resolution, calling for a carrot-and-stick approach to facilitating other IOSCO members acceding to the MMoU.  The new signatories to the MMoU were the Labuan Financial Services Authority, the Peruvian Superintendencia del Mercado de Valores, the Egyptian Financial Supervisory Authority, and the Mauritius Financial Services Commission.  Their accession brought to 86 the total number of signatories, covering more than 94% of the world’s securities markets.[1]