Principles Regarding Cross-Border Supervisory Cooperation
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IOSCO offers suggestions as to how regulators can enhance cross-border cooperation to better supervise the entities they regulate that have expanded their operations across borders. The Report also suggests that regulators expand the notion of supervisory cooperation to establish mechanisms to consider and evaluate the global market. Instead of narrowly focusing on entity-specific oversight, regulators should explore opportunities to further collaborate on identifying, assessing and mitigating emerging risks and seek to address and evaluate them on a global basis. This Report likewise describes different types of collaborative mechanisms that securities regulators may use to foster greater supervisory cooperation, including ad hoc discussions, memoranda of understanding (MOUs), supervisory colleges and networks of regulators.