Karachi, May 18, 2012 (PPI-OT): Securities and Exchange Commission of Pakistan (SECP) and Jordan Securities Commission (JSC) have signed a memorandum of understanding (MoU) to improve cooperation.
According to Alfalah Securities Limited, SECP and JSC are also signatories to the IOSCO (International Organization of Securities Commissions) multilateral MoU, pertaining to the international standard for information sharing between the securities regulators and this bilateral MoU would supplement the cooperation extended under the umbrella of multilateral MoU. The two regulators have committed to work together to ensure fair, transparent, efficient and well-regulated stock and commodity markets.
The SECP has already signed MoUs with the regulatory agencies of India, the Maldives, Australia, Bhutan, Sri Lanka, Iran, China, Turkey, Oman and Morocco. The scope of MoU includes assistance in actions against insider dealings, market manipulation and other fraudulent practices in securities dealings, enforcement of relevant laws, rules and regulations, monitoring the markets for their compliance with laws and regulations, promoting high standards of fair dealing in their conduct or business, and technical assistance among the two regulatory bodies.