Explore this section if you want to learn more about the OSC's memoranda of understanding (MOUs) with regulators in other countries, including the IOSCO Multilateral MOU. These MOUs generally provide a framework to facilitate cooperation in the exchange of enforcement-related information. The MOUs help the regulators perform their functions more effectively and improve their mutual understanding of each other's regulatory systems.

This International MOUs Table lists Memoranda of Understanding that have been signed or endorsed by the Ontario Securities Commission (OSC) and one or more foreign securities regulators. The list is current to 30 June 2004. Additional information about these MOUs is available either in the OSC Bulletin (references are included in the second column of the table) or in IOSCO’s On-Line Library. If you have any questions about these MOUs, please contact Krista Martin Gorelle in the General Counsel’s Office at the OSC ((416) 593 3689).

IOSCO Multilateral Memorandum of Understanding

In May 2002, the International Organization of Securities Commissions (IOSCO) endorsed a comprehensive multilateral memorandum of understanding (IOSCO MMOU) to facilitate and reinforce international cooperation among securities regulators. The IOSCO MMOU is based on the thirty IOSCO Objectives and Principles of Securities Regulation (IOSCO Principles) adopted in 1998 and the experience gathered by securities regulators in using bilateral MOUs.

The IOSCO MMOU provides a standardized framework for sharing enforcement-related information and a gradually expanding network of participating regulatory agencies.

IOSCO members who wish to sign the IOSCO MMOU participate in a comprehensive screening process to establish that they have the legal capacity to fully comply with the terms of the IOSCO MMOU.

The four provincial securities commissions that participate in IOSCO (the OSC, the Alberta Securities Commission, the British Columbia Securities Commission and the Autorité des marchés financiers in Quebec) have completed this screening process and signed the IOSCO MMOU. The other signatories are:

Australian Securities and Investments Commission (Australia)
Commission Bancaire et Financière et des Assurances (Belgium)
Denmark Financial Supervisory Authority (Denmark)
Dubai Financial Services Authority (Dubai)
Autorité des Marchés Financiers (France)
Bundesanstalt für Finanzdienstleistungaufsicht (Bafin) (Germany)
Capital Market Commission (Greece)
Securities and Futures Commission (Hong Kong)
Hungarian Financial Supervisory Authority (Hungary)
Securities and Exchange Board of India (India)
Financial Supervision Commission (Isle of Man)
Israel Securities Authority (Israel)
Commissione Nazionale per le Società e la Borsa (Italy)
Jersey Financial Services Commission (Jersey)
Lithuanian Securities Commission (Lithuania)
Malta Financial Services Authority (Malta)
Comision Nacional Bancaria y de Valores (Mexico)
New Zealand Securities Commission(New Zealand)
Securities and Exchange Commission of Nigeria (Nigeria)
Comissão do Mercado de Valores Mobiliários (Portugal)
Polish Securities and Exchange Commission (Poland)
Monetary Authority of Singapore (Singapore)
Financial Market Authority (Slovakia)
Financial Services Board (South Africa)
Comisión Nacional del Mercado de Valores (Spain)
Securities and Exchange Commission (Sri Lanka)
Capital Markets Board (Turkey)
Financial Services Authority (United Kingdom)
Commodity Futures Trading Commission (United States)
Securities and Exchange Commission (United States)

IOSCO members who complete the screening process but are found to lack the legal authority to fully comply with the terms of the IOSCO MMOU will be invited to become signatories to Annex B of the IOSCO MMOU, provided that they express their commitment to obtaining the necessary legal authority to become full signatories. The following IOSCO members have been accepted as signatories to Annex B of the IOSCO MMOU:

Financial Supervision Commission (Bulgaria)
Superintendencia de Valores y Seguros (Chile)
Securities and Exchange Commission (Republic of Cyprus)
Indonesian Capital Market Supervisory Agency (Indonesia)
Netherlands Authority for the Financial Markets (Netherlands)
Comisión Nacional de Valores (Panama)
Comision Nacional Supervisora de Empresas y Valores (Peru)
Swiss Federal Banking Commission (Switzerland)
Securities and Exchange Commission of Thailand (Thailand)