Jordan Securities Commission Signs MOU with Pakistan Counterpart on 30/05/2012
30-May-2012
On the sidelines of the Annual Meeting of the International Organization of Securities Commissions (IOSCO) in Beijing, Jordan Securities Commission (JSC) signed an MOU with the Securities & Exchange Commission of Pakistan (SECP). The MOU will further enhance cooperation & coordination between the two regulatory bodies to regulate the capital market & enhance investor protection.
The MOU concentrated on exchanging experiences & surveillance information between the two parties, to develop the performance of the two securities commissions, to improve legislative frameworks, to enhance adhering to the law, international standards & applied legislations & to eliminate illegal practices in these markets. It also concentrated on enhancing disclosure of information necessary to investors & on improving professional & technical levels of Certified Financial Professionals & of licensed Financial Services Companies. The MOU stressed on cooperating in the field of surveillance on the performance of securities markets & on depository, settlement & clearing institutions in both countries.
Chairman of the (JSC) Board of Commissioners Mr. Mohammad Tash stated that “signing this MOU comes within the cooperation framework with member countries in the (IOSCO) & it enhances (JSC) presence in the international level helping, thus the (JSC) to view the experiences of countries, exchange experiences in regulating & developing capital markets & the performance of these surveillance parties in these markets by virtue of best practices & international standards including the (IOSCO) Objectives & Principles of Securities Regulation”.
The MOU was signed by Mr. Mansour Haddadin, the (JSC) Commissioner & Mr. Muhammad Ali, Chairman of the (SECP).
JSC is an active member in (IOSCO); it is a member in many key committees & working teams. It signed many MOUs & cooperation agreements with many counterparts of regulatory bodies on the Arab & international level.