Media Releases
Published Date: 17 May 2000

Memorandum of Understanding signed in Sydney on 17 May 2000 at 2.00 pm (Sydney time)MAS signs Memorandum of Understanding with Germany's Securities and Futures Regulatory Authority

17 May 2000... The MAS announced today that it has signed a Memorandum of Understanding (MoU) with Germany's securities and futures regulator, Bundesaufsichtsamt fur den Wertpapierhandel (BAWe).

Under the MoU, MAS and BAWe 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 laws and regulations.

The MoU was signed by MAS Deputy Managing Director Mr Tharman Shanmugaratnam and BAWe Chairman Mr Georg Wittich in Sydney. Said Mr Shanmugaratnam, "The signing of this MoU at the International Organisation of Securities Commissions (IOSCO) Annual Conference signifies the importance of co-operation amongst regulators with greater integration of securities markets globally. Regulators need to re-orient their supervisory tools and approaches in today's environment of increasing globalisation and technological advancement."

MAS has also entered into MoUs with other securities and futures regulators. Yesterday, the MAS signed an MoU with the Australian Securities and Investments Commission (ASIC) as well as a tripartite MoU with the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).