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Another milestone in the international cooperation of the Brazilian Securities Commission (CVM).
CVM recently completed the process of adhering to the Enhanced Multilateral Memorandum of Understanding (EMMOU) of the International Organization of Securities Commissions (IOSCO), an entity that brings together securities market regulators from around the world.
The EMMOU is the expanded version of the 2002 Multilateral Memorandum of Understanding (MMOU), which facilitates the exchange of information between participants from different countries. With this, the inspection by CVM becomes more effective, as the Autarchy can share investigation material, in a more agile and safe manner, with a greater number of regulators.
By demonstrating that it is capable of complying with the requirements of extended powers, CVM has authorized itself to be a signatory in category A1, that is, full. In total, there are 11 A1 signatories and 8 A2 signatories (which did not meet all the requirements).
In order to join the EMMoU, CVM went through a rigorous evaluation process. In this process, the Autarchy proved to have the characteristics and conditions required by IOSCO, which involved aspects of regulation and supervision.
“This is another important step towards strengthening international cooperation and a signal to investors and authorities of foreign markets that CVM can act in an important way to ensure the protection of investors in these markets.
In addition, it is a recognition that the Brazilian regulatory framework meets the standards of the most developed markets in relation to the sharing of information with foreign authorities, essential for the regular functioning of capital markets around the world.”
Marcelo Barbosa, President of CVM.
CVM performs its main international role through its seat on the IOSCO Board and representation on all eight policy committees .
The Municipality also participates in the Growth and Emerging Markets Committee (GEM), made up of 97 members that regulate the developing capital markets, and has integrated several working groups and verification & review teams .
The full list of EMMOU participants is available on the IOSCO website .