By Ilkin Seyfaddini – Trend:
BAKU, Azerbaijan, Apr. 16:
The Agency for Capital Market Development of Uzbekistan intends to become an official signatory of the multilateral memorandum of understanding on consultations, cooperation and information exchange (IOSCO MMoU) by the end 2020, Trend reports citing Uzbek media.
The relevant issue was discussed on April 13 via a videoconference with the participation of the Agency's management and representatives of the IOSCO secretariat headed by the organization's Senior Advisor Isabelle Pastor.
During the event the issues of accelerating the process of preparing the legislative base for signing the memorandum by the Uzbek side were discussed. In this regard, a number of documents were handed over to the IOSCO secretariat for a comprehensive assessment.
The official signing of IOSCO memorandum on interaction in the financial market by the agency, will be a clear signal to foreign investors that Uzbekistan adheres to world standards and principles, and market regulation can ensure transparent operation of the exchange, the message said.
At present, 138 countries are signatories of the Multilateral Memorandum of Understanding (MMoU).
IOSCO MMoU was developed in 2002 for the purpose of information exchange between securities market regulators - IOSCO members and prevention of unfair behavior practices in the financial market.
The International Organization of Securities Commissions (IOSCO) is an international financial organization that unites national securities market regulators. The organization's headquarters are in Madrid, Spain.
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