The Securities Commission Malaysia (SC) has taken a significant step towards enhancing cross-border enforcement by signing the International Organization of Securities Commissions’ (IOSCO) Enhanced Multilateral Memorandum of Understanding (EMMoU). The formal signing took place during the IOSCO Annual Meeting held in Doha from 12 to 14 May 2025.
The EMMoU, aimed at fostering greater cross-border cooperation and enforcement among securities regulators, enables its signatories to leverage new forms of assistance to boost investigation and enforcement efficiency. Malaysia’s SC, alongside Kenya’s Capital Markets Authority (CMA) and Spain’s Comisión Nacional del Mercado de Valores (CNMV), joined the ranks of 27 other IOSCO members already committed to the enhanced framework.
The original IOSCO Multilateral Memorandum of Understanding (MMoU), signed by the SC in May 2007, established a robust framework for international information sharing among securities and derivatives regulators. Since then, the SC has actively collaborated with other signatories under the MMoU framework to facilitate cross-border enforcement.
In 2022, the SC further demonstrated its commitment to international cooperation by signing the IOSCO Asia Pacific Regional Committee’s (APRC) Multilateral Memorandum of Understanding for Supervisory Cooperation (Supervisory MMoU). This agreement established a structured framework for supervisory collaboration among capital market regulators in the region.
The newly signed EMMoU introduces expanded powers, abbreviated as “ACFIT.” These powers include the authority to obtain (A) audit papers, (C) compel attendance for testimony, (F) freeze assets, and acquire (I) internet service provider and (T) telephone records.
Dato’ Mohammad Faiz Azmi, Chairman of the SC, signed the EMMoU during the final day of the IOSCO Annual Meeting, emphasising the importance of this commitment. “This EMMoU significantly underscores our dedication to maintaining market integrity and protecting investor interests. It also highlights our steadfast support for international enforcement cooperation, which is particularly crucial as the increasingly interconnected global financial markets demand collective efforts to address issues such as securities fraud,” he stated.
The IOSCO Annual Meeting, a pivotal forum for discussing key global securities and futures market issues, provides an essential platform for knowledge exchange, regulatory coordination, and the implementation of global standards. By signing the EMMoU, the SC reaffirms its commitment to maintaining financial market integrity through strengthened international collaboration.
