The APRC multilateral memorandum of understanding aims to enhance cooperation on securities market supervision with national and regional regulators.
On the morning of February 21, 2025, in Quang Nam, witnessed by Minister of Finance Nguyen Van Thang, representatives of Quang Nam provincial government and representatives of the Asia-Pacific Regional Subcommittee (APRC), International Organization of Securities Commissions (IOSCO), Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong, on behalf of the SSC, signed the Multilateral Memorandum of Understanding on Supervision of APRC (S-MMOU).
This is an event to enhance the cooperation in securities market supervision between the State Securities Commission and market management agencies of APRC member countries in particular and IOSCO in general, as well as to enhance the image of Vietnam's securities market on par with other countries in the region.
Chairwoman of the State Securities Commission Vu Thi Chan Phuong said that since 2001, just 5 years after its establishment, the State Securities Commission of Vietnam has joined and become an official member of IOSCO. As a member of IOSCO, the State Securities Commission of Vietnam has always been proactive and actively participated in many IOSCO activities internationally and regionally, ready to support information sharing to serve the management, supervision and enforcement of securities regulatory agencies of other countries.
Speaking at the ceremony, Mr. Rodrigo Buenaventura - Secretary General of IOSCO congratulated the State Securities Commission of Vietnam on becoming an official member to sign the S-MMOU.
“This is an important milestone for the global market regulatory network, because S-MMOU is the foundational mechanism for APRC and IOSCO members to support each other in effectively implementing management, supervision, inspection and enforcement in the field of securities and the stock market. The signing of S-MMOU by the State Securities Commission of Vietnam demonstrates the commitment of the Vietnamese securities market regulator to promoting cooperation in supervision and development of the regional securities market.”
At the same time, Mr. Rodrigo Buenaventura encouraged other members in the APRC region, following the State Securities Commission of Vietnam, to sign and join the S-MMOU to strengthen cooperation and information sharing in the APRC region even more strongly.
Participating in S-MMOU will facilitate the SSC of Vietnam to cooperate and exchange supervisory information at the maximum level allowed with APRC member countries, comply with Vietnam's domestic laws and regulations, and ensure Vietnam's full participation in the framework of cooperation in supervising activities in the APRC regional securities market under IOSCO. The SSC of Vietnam is ready to cooperate and support each other among regulatory agencies to develop the regional securities market in a stable and sustainable manner.
| The APRC IOSCO Multilateral Monitoring Memorandum of Understanding (S-MMOU IOSCO) is an initiative of the Asia-Pacific Regional Committee (APRC) to be implemented from 2022. This is a Multilateral Memorandum of Understanding on Monitoring Cooperation for IOSCO member countries that have signed the IOSCO Multilateral Memorandum of Understanding on Consultation, Cooperation and Information Exchange (MMOU IOSCO). Currently, 12/33 APRC members have signed the S-MMOU. The S-MMOU is not a legally binding instrument, it represents a commitment between the signatory member countries to cooperate and exchange supervisory information to the maximum extent permitted in accordance with and in compliance with the respective domestic laws and regulations of the signatory parties. The commitments in the S-MMOU include: cooperation in the licensing, registration or recognition of natural or legal persons; cooperation in continuous supervision; cooperation in field work; cooperation in emergency situations; cooperation in anti-money laundering and counter-terrorism financing; support for voluntary provision of information; permission for use and confidentiality of information. |
Source: https://baotainguyenmoitruong.vn/ubcknn-ky-ket-bien-ban-ghi-nho-da-phuong-ve-giam-sat-cua-aprc-386905.html
Comment (0)