CFTC and SEC Participate in the Signing Ceremony for the IOSCO Enhanced Multilateral MOU Concerning Cross-Border Enforcement
Friday, May 24, 2019

At the 44th Annual International Organization of Securities Commissions (IOSCO) Conference in Sydney, Australia, the Chairmen of the Commodity Futures Trading Commission and the Securities and Exchange Commission took part in a signing ceremony on May 15 for the IOSCO Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU).

In 2002, IOSCO established the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (2002 MMoU). The 2002 MMoU created a framework for international information-sharing among securities and derivatives regulators to facilitate cross-border enforcement investigations, and is widely viewed as the international benchmark for cross-border cooperation in enforcement matters.

IOSCO established the EMMoU to allow its signatories to avail themselves of new forms of assistance and support, including greater cross-border enforcement cooperation and assistance among securities regulators, as well as access to powers to compel subscriber records from telephone and internet communications providers.

The 2002 MMoU currently has 123 signatories that have agreed to comply with minimum standards for obtaining and sharing with fellow signatories banking, brokerage and beneficial ownership information. Both the CFTC and the SEC became signatories to the 2002 MMoU on December 19, 2002. The 2002 MMoU will remain in effect as long as and until the signatories migrate to the EMMoU.

For a more detailed discussion, please see the following CFTC Release: here.

 

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