[Provisional Translation]
February 12, 2008
Financial Services Agency

Approval for Signing to the "IOSCO Multilateral MOU"

  1. On February 5, 2008, the Financial Services Agency of Japan ("FSA") obtained the approval of the International Organization of Securities Commissions ("IOSCO")新しいウィンドウで開きます to become a signatory of the Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information (hereinafter referred to as "MMOU"), which is an information-sharing mechanism among securities regulators around the world. Accordingly, the FSA is to become a signatory of MMOU shortly, after the necessary procedures have been completed.

    • [Note] In order to become a signatory of the MMOU, a securities regulator must apply to IOSCO and go through the screening process by IOSCO with regard to its legislation concerning information exchange. The applicant shall be approved by IOSCO that it has sufficient legal ability to undertake information exchange under the MMOU. At present, 44 regulators, including the regulators in major markets, are the signatories to the MMOU.

  2. As securities transactions are becoming increasingly cross-border, market misconduct also occurs in a cross-border context. With this situation in mind, it is vital for securities regulators to co-operate and share information smoothly and mutually, in order to carry out the markets in effective manner. "Strengthening cooperation with overseas authorities" and "broaden bilateral and multilateral networks for information exchange with overseas supervisory authorities" are contained in the "Plan for Strengthening the Competitiveness of Japan's Financial and Capital Markets" released on December 21, 2007.
  3. By becoming the MMOU signatory, the FSA will be able to exchange information as necessary with securities regulators around the globe for market supervision and enforcement. The FSA will strike to ensure fairness in the cross-border securities markets through international cooperation under the MMOU.
[Attachment 1] PDFThe text of the MMOU (PDF:743KB)
[Attachment 2] PDFPlan for Strengthening the Competitiveness of Japan's Financial and Capital Markets (PDF:33KB)

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Financial Services Agency, Government of Japan
Tel +81-(0)3-3506-6000 (main)
International Affairs Division (ext.3189, 3693)

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