Another significant agreement has been signed between the Trinidad and Tobago Securities and Exchange Commission and a securities group. On Wednesday April 09, at the offices of the Financial Services Com-mission in Barbados, SEC Chairman, Professor Patrick Watson signed the Caribbean Group of Securities Regulators’ (CGSR) Multilateral Memorandum of Understanding (MMoU) for the Exchange of Information and Cooperation and Consultation. Also signing this Memorandum were executives from the Eastern Car-ibbean Securities Regulatory Commission, Financial Services Commission of Jamaica and the Financial Ser-vices Commission of Barbados.
This agreement aims to facilitate mutual cooperation in the conduct of the regulatory and supervisory functions under the relevant securities laws, regulations and rules in the respective jurisdictions, including specific initiatives, between jurisdictions that will require such co-operation and collaboration. This MMoU acknowledges the importance of information sharing to mitigate or reduce, where possible, issues of arbitrage and the importance of compliance with relevant international standards established by international standard setting bodies such as the International Organization of Securities Commissions.