Global Regulators Convene In Colombo For Key IOSCO Enforcement And Cooperation Discussions

(MENAFN- Colombo Gazette) Sri Lanka's Securities and Exchange Commission said it hosted international securities regulators in Colombo from 13 to 16 October for discussions on cross-border investigations, information sharing and securities-market misconduct.

The meetings at Hilton Colombo brought together approximately 50 senior representatives from regulators and exchanges, according to the SEC.

Participants represented jurisdictions including Australia, Japan, the United States, the United Kingdom, France, Italy, Canada, New Zealand, India, Germany, Belgium, Singapore, China and Spain.

The programme included meetings of the International Organization of Securities Commissions' Enforcement and Cooperation Committee and its Screening Group, together with sessions of its Monitoring Group and Steering Committee.

The SEC said discussions examined cooperation between regulators investigating securities fraud and market abuse, including cases involving more than one jurisdiction.

Participants also considered enforcement challenges arising from technological developments, the digitalisation of financial services and increasingly interconnected markets.

Welcoming delegates, SEC chairman Senior Professor D.B.P.H. Dissabandara said regulators needed coordinated responses to misconduct that crossed national borders.

He said information sharing and trust between authorities were necessary to support market integrity and investor confidence.

According to the commission, Sri Lanka became an ordinary member of IOSCO in 1993 and a signatory to its Multilateral Memorandum of Understanding in 2004.

The agreement provides a framework for cooperation and information exchange between securities regulators investigating potential breaches of securities laws.

The SEC said it had served on IOSCO's Enforcement and Cooperation Committee since 2015 and also participated in regional and policy committees.

The release described the Colombo meetings as an opportunity for regulators to exchange investigative experience and strengthen professional relationships.

It did not identify individual investigations discussed or announce specific enforcement decisions arising from the meetings.

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