Financial Authorities Strengthen International Cooperation with Asia-Pacific Supervisory Agencies

IOSCO Asia-Pacific Regional Committee
Joins MMoU on Capital Market Supervisory Cooperation

Financial Supervisory Service, Yeouido, Seoul. Photo by Younghan Heo younghan@

Financial authorities are strengthening international cooperation for the supervision of securities and derivatives markets with capital market regulators in the Asia-Pacific region, including Hong Kong, Japan, and Australia.

The Financial Services Commission and the Financial Supervisory Service announced on the 10th that they joined the multilateral Memorandum of Understanding (MMoU) on capital market supervisory cooperation under the Asia-Pacific Regional Committee (APRC) of the International Organization of Securities Commissions (IOSCO) on the 8th.

This MMoU aims to enhance supervisory cooperation and information exchange among regulators in the securities and derivatives markets within the Asia-Pacific region. It stipulates multilateral cooperation related to the performance of capital market financial supervision duties.

Previously, the Financial Services Commission and the Financial Supervisory Service joined the IOSCO MMoU in 2010 to strengthen multilateral cooperation for investigations of unfair trading and related matters. In 2019, they also joined the Enhanced Multilateral Memorandum of Understanding (EMMoU), which expanded the scope of information exchange and improved the promptness of information requests.

The APRC consists of 22 capital market regulatory authorities. The MMoU that the Financial Services Commission and the Financial Supervisory Service joined this time already includes regulators from 10 countries such as Hong Kong, Japan, Australia, and Singapore. The number of cooperating parties may increase in the future.

The Financial Services Commission and the Financial Supervisory Service stated, "We plan to continuously strive to exchange information and cooperate with capital market regulators of various countries in overseas capital markets and to strengthen the status of our country."

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