The Capital Market Development Agency of Uzbekistan intends to become the signatory of the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information of the International Organization of Securities Commissions (IOSCO MMOU) by the year-end.
This issue was discussed on April 13 at a videoconference between the leadership of the Agency’s leadership and the head of the IOSCO Enforcement & Cooperation Isabel Pastor.
The parties touched upon the ways to speed up the process of preparing the legal framework for the signing of the memorandum by the Uzbek side. In this regard, a number of comprehensive assessment documents have been submitted to the IOSCO secretariat.
The official signing of the IOSCO MMOU by the Agency will be a clear signal to foreign investors that Uzbekistan will adhering to international standards and principles, and market regulation can ensure the transparent operation of the Uzbek exchanges.
Currently, 138 countries are the signatories to the MMOU.
IOSCO MMOU was developed in 2002 with an aim to exchange information and to prevent unfair practices in the financial market.
