The International Organization of Securities Commissions has published a set of principles regarding cross-border supervisory cooperation developed by its technical committee’s task force on supervisory cooperation.
These principles, accompanied by a report and sample memorandum of understanding, set out how securities regulators can better build and maintain cross-border cooperative relationships that will allow them to more effectively oversee financial services providers such as investment advisers, asset managers, hedge funds, credit rating agencies, exchanges and clearing houses, that operate in multiple jurisdictions.
The objective of the principles is to assist regulators in determining the form of cooperation best suited to the regulatory task at hand, and outline the critical issues that experience has shown regulators should agree upon when building a supervisory cooperation arrangement.
