China's securities regulator said Wednesday it has joined an international securities investigative agreement that will help it solve cross-border regulatory problems and achieve a higher level of market regulation.
The China Securities Regulatory Commission said it received approval to be a signatory member of the International Organization of Securities Commission (IOSCO) at the ongoing IOSCO's 32rd annual conference in Mumbai, India.
A total of 41 securities regulators have been approved, the commission said in a press release.
It said the signatories will help the IOSCO to boost securities supervision and launch more effective crackdowns on securities-related crimes.
It noted the accord will enable it to get assistance from foreign signatory members when investigating insider dealings, stock price manipulations, and other types of cheating on domestic stock markets.
The signatory will also help China play a more active role in formulating international securities regulations, the commission added.
IOSCO was founded in 1983 in Madrid of Spain with the aim of providing effective surveillance of international securities transactions to maintain just, efficient and sound stock markets.
(Xinhua News Agency April 12, 2007)