Mauritius and Angola sign co-operation accord on securities and derivatives
Delegates at the 39th Annual Conference of the International Organisation of Securities Commissions (IOSCO) held in Rio de Janeiro, Brazil from September 28, 2014 to October 2, 2014 (Image: Business Today)
Mauritius and Angola signed this week a co-operation accord in the field of regulating and supervising securities and derivatives market in both countries on the occasion of the 39th Annual Conference of the International Organisation of Securities Commissions (IOSCO) held in Rio de Janeiro, Brazil.
Clairette Ah-Hen, CEO of the Financial Services Commission (FSC) – Mauritius’ premier non-banking financial services regulator – signed the accord on behalf of Mauritius and her counterpart Archer Mangueira, President of the Angolan Capital Market Commission (CMC), signed on behalf of Angola.
The aim behind this agreement is to guarantee the exchange of information between both institutions in order to give rise to transparency and detect fraud easily in the referred markets.
In addition, the agreement outlines training programmes and technical assistance in view of facilitating the regulatory framework of securities in Mauritius and Angola.
The Angolan delegation to the conference attended the gathering as observer member, which is the category for those institutions that are on their way to becoming full members.
The 39th Annual Conference of the International Organization of Securities Commissions (IOSCO), which took place from September 28, 2014 to October 2, 2014 in Rio de Janeiro, saw around 600 people in attendance at the public and private conferences, workshops, meetings, fair and social events.
Those attending this conference, held annually, are provided with the opportunity to engage in high-level discussions on the global capital market and to establish business relationships in one of the world’s most beautiful settings.
Incidentally, last year itself, FSC Mauritius hosted the IOSCO Committee 1 meeting from 21 to 24 October 2013, an added distinction for it, being as it is the only African agency on the C1.
Then again, this year, the FSC was chosen to host the 2014 International Organization of Securities Commissions (IOSCO) Growth and Emerging Markets (GEM) Committee and Annual Meeting from 23-25 April 2014.
About the International Organization of Securities Commissions (IOSCO):
Established in 1983, the IOSCO is the acknowledged international body that brings together the world’s securities regulators and is recognized as the global standard setter for the securities sector.
IOSCO develops, implements, and promotes adherence to internationally recognized standards for securities regulation, and is working intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda.
IOSCO’s membership regulates more than 95% of the world’s securities markets. Its members include over 120 securities regulators and 80 other securities markets participants covering stock exchanges, financial regional and international organizations. IOSCO is the only international financial regulatory organization which includes all the major emerging markets jurisdictions within its membership.