IOSCO

At its annual conference in 2002, IOSCO approved a multilateral agreement on cooperation and global information exchange between stock exchange supervisory authorities (Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information , IOSCO MMoU). This agreement was the first international standard for cooperation in dealing with breaches of stock exchange regulations. Stock exchange supervisory authorities wishing to sign the MMoU are first assessed to determine how capable they really are of cooperating in accordance with the provisions of the MMoU. FINMA also underwent this assessment and was unable to become a full signatory of the MMoU due to gaps in Swiss legislation on provisions for international administrative assistance. These legislative gaps have since largely been closed with the revision of Article 38 of the Stock Exchange Act, which came into force on 1 February 2006. FINMA is now better positioned to give foreign authorities support with their requests. Subsequently, at the beginning of 2010, FINMA was able to become a full signatory of the IOSCO's MMoU (A signatory), even if certain issues have still to be resolved.

IAIS

To facilitate the mutual exchange of confidential information for the purposes of prudential supervision, the IAIS approved a multilateral agreement as a standard to promote cooperation between supervisory authorities in insurance (IAIS Multilateral Memorandum of Understanding on Cooperation and Information Exchange, IAIS MMoU) in February 2007. The MMoU defines in particular the principles and procedures for the exchange of information between supervisory authorities. FINMA joined the IAIS MMoU on 23 September 2011.