TUNIS - The Financial Market Council (FMC) announced, on Tuesday, that it has joined the International Organisation of Securities Commission (IOSCO) Multilateral Memorandum of Understanding (MOU) on Consultation, Co-operation and Exchange of Information, which gathers 52 states, including such countries like the United States, France, Germany, Australia, Italy and Hong-Kong.
IOSCO aims, in general, to set up strict international standards to reinforce efficiency and transparency of financial markets, to protect investments and facilitate co- operation between regulation authorities to combat breaches in financial matters.
FMC's membership to IOSCO was accepted last December, after checking conformity of the Tunisian system regulation with international securities standards.
Joining IOSCO will help FMC access necessary information to carry out at best its control operations, notably following promulgation of the financial services code for non-residents.
Accepting Tunisia as member of IOSCO Multilateral Memorandum of Understanding on Consultation, Co-operation and Exchange of Information, testifies to the efficient and accurate national choices pertaining to financial policy, thanks to the Head of State's constant follow-up of the financial market, which helped carry out the continuous reforms that consecrated the principle of transparency and set up strict rules applicable to financial transactions, with a view to preserving stability of the Tunisian financial market and reinforcing foreign investors' confidence in security and solidity of the Tunisian site.
© Agence Tunis Afrique Presse 2010
