ArmInfo. The Central Bank of Armenia has joined the multilateral memorandum of the International Organization of Securities Commissions (IOSCO) and is included in the list "A", which lists the persons who signed the IOSCO MMoU, which will allow the exchange of information within the framework of this document. As the press service of the Central Bank of Armenia told ArmInfo, the signing of the memorandum took place on January 18 this year.
According to the source, joining the Multilateral Memorandum of Understanding on issues of consultation, cooperation and information exchange (IOSCO MMoU) will ensure the effectiveness of enhanced cooperation with financial market regulators in other countries in terms of identifying and preventing violations of securities market legislation. This, in turn, will create additional guarantees to protect the rights of investors.
The Central Bank of Armenia has been a regular member of IOSCO since 2005. The Central Bank of Armenia is also a member of several IOSCO Presidential Committees, the Commission for Growth and Emerging Markets, the Commission of the European Region. With the signing of the memorandum of the Central Bank of Armenia, the monitoring group IOSCO MMoU Monitoring Group was included.
It should be noted that IOSCO is an international financial organization that unites national securities market regulators. The headquarters of the organization is in Madrid, Spain. The organization was founded in 1974, and in 1983 it was transformed from a regional to a world-wide international organization. IOSCO MMoU was developed in 2002. in order to exchange information between regulators of the securities market - IOSCO members and to prevent unfair practices of behavior in the financial market. Currently (as of the end of 2017), the organization has 216 participants. The organization includes three types of members: permanent (127), associated (25) and affiliated (64). Members of the organization regulate the securities markets, accounting for more than 95% of the global securities market.