Singapore, 21 December 2001. The governments of Singapore and Japan have agreed to enhance co-operation in sharing information on the securities and securities derivatives market. The bilateral arrangement, part of the Japan-Singapore Economic Agreement for a New Age Partnership (JSEPA), paves the way for greater mutual assistance between Singapore and Japan, in the supervision of the securities and securities derivatives markets.

The securities market mutual assistance agreement was signed in Singapore, by Monetary Authority of Singapore (MAS) Managing Director, Mr. Koh Yong Guan and Japan's Ambassador to Singapore, Mr. Kunihiko Makita. The agreement is implemented by a Memorandum of Understanding between the MAS and the Financial Services Agency of Japan. Japan's Senior Vice Minister for Financial Services, Mr. Yoshitaka Murata was at the signing ceremony, along with other senior Japanese and MAS officials.

"With increasing cross-border activities between capital markets, co-operation among regulators has gained greater significance. This arrangement, which will facilitate such co-operation between Singaporean and Japanese regulators, is important in an environment of increasing globalisation, market integration, product innovation and technological advancements." Mr Koh said.

***