The Astana Financial Services Authority (AFSA), the regulatory body of the Astana International Financial Centre (AIFC), has become a participant to the IOSCO Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information (IOSCO MMoU).
Becoming a signatory to the MMoU confirms that the AIFC financial regulatory framework complies with global standards for the exchange of information on cross border financial activities in capital markets and protection of confidential information. The AFSA will enhance its upervision of cross-border securities’ transactions to ensure market integrity and stability and to facilitate enforcement of AIFC regulations and rules.
In an increasingly globalised environment for the capital market the MMoU provides critical tools for effective cooperation among regulators. Signing the IOSCO MMoU will allow the AFSA to cooperate on cross-border enforcement with the other 123 regulatory authorities who are also signatories to the MMoU and an integral part of the global capital market.
Mukhtar Bubeyev, Acting CEO of the AFSA, said: “Signing the IOSCO MMoU is an important milestone in formation of regulatory framework of AIFC and development of capital markets in the AIFC. We are very proud to be part of the large group of signatories to the IOSCO MMoU and to demonstrate our commitment to international enforcement cooperation».