Sri Lanka will join the elite band of 25 countries that have signed a Memorandum Of Understanding with world watchdog for securities markets, IOSCO.
The International Organization of Securities Commissions (IOSCO) is the global standard setting body, regulating more than 90 percent of world securities markets.rn
rnFollowing an annual conference in 2002, IOSCO drew up an international MOU to have detailed assessments in member countries and has since rolled out a pilot program.rn
rnThis allows for assessment the level of practical implementation of IOSCO standards, to help individual countries assess deficiencies and prepare a plan of action.rn
rnIt is also the first multilateral MOU that facilitates exchange of expertise in enforcement related issues and allows for an easier flow of information from mainly developed to emerging markets.rn
rnldblquote We have adopted this mechanism to have detailed assessments and we never had something like this before
dblquote , Deputy Secretary General of