MAS signs Memorandum of Understanding with France's Commission des Operations de Bourse (COB)

Singapore, 24 Nov 1999... The MAS announced today that it has signed a Memorandum of Understanding (MOU) with France's Commission des Operations de Bourse on Tuesday, 23 Nov 1999.

The MOU will allow for greater co-operation between the regulatory authorities in France and Singapore. Under the MOU, both authorities agree to provide mutual assistance and exchange information necessary for investigations into offences or fraudulent practices regarding securities and futures transactions, as well as to facilitate the effective performance of their supervisory functions and enforcement of securities laws and regulations.

Said Ms Yeo Lian Sim, MAS' Assistant Managing Director (Capital Markets), "With exchanges world-wide establishing linkages and alliances with one another, it is timely for securities regulators to strengthen co-operation internationally. The signing of the MOU between the Monetary Authority of Singapore and the Commission des Operations de Bourse will contribute significantly to this objective."

The signing of the MOU comes after formation of the GLOBEX Alliance, which comprises the Singapore International Monetary Exchange, ParisBourseSBF, Chicago Mercantile Exchange, Montreal Exchange and Brazil's Bolsa de Mercadorias & Futuros.