The British Columbia Securities Commission (BCSC) and the Australian Securities Commission (ASC) have signed a memorandum of understanding, providing for regulatory co-operation between them.
The agreement is intended to fortify investor protection and promote the integrity of financial markets. It also provides a framework for mutual assistance and the exchange of information in investigations and enforcement matters.
Signed by BCSC Chairman Douglas Hyndman and ASC Commissioner William Robinson, the memorandum covers compliance with, and enforcement of, laws and regulatory requirements in several areas. These include insider dealing, market manipulation and other fraudulent practices in relation to listed companies and securities.
The agreement also covers: the supervising and monitoring of the securities markets and their clearing and settlement activities; enforcement of laws and rules related to dealing in, managing and advising on securities; promoting and securing the suitability of dealers and investment advisers; ensuring compliance with requirements for full, accurate and immediate disclosure of information regarding listed companies; and mergers and takeovers.
The BCSC has signed similar agreements with the Hong Kong Securities and Futures Commission, the U.S. Securities and Exchange Commission and the Commission des operations de bourse of France.
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