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Remarks by Mrs Stella Kilonzo, Chief Executive, Capital Markets Authority, During the Signing Of the Memorandum of Understanding with the Securities and Exchange Commission Of Ghana at the Capital Markets Authority Offices, September 7, 2011 

The Director General of the Securities and Exchange Commission of Ghana, Mr Adu

Anane-Antwi;

Members of the Press;

Ladies and Gentlemen;

Good Afternoon;

I would like to thank you all for coming to witness this important event as the Capital Markets Authority and the Securities and Exchange Commission of Ghana sign a Memorandum of Understanding.

This is aligned to our efforts to deepen co-operation with other capital market regulators, with the recognition of the importance of international co-operation to the development and maintenance of an open, fair, orderly, and sound domestic financial services industry in our two countries.

The MOU we are signing today will help us enhance cooperation, promote mutual assistance, and facilitate the exchange of information and consultation between the Capital Markets Authority and the Securities and Exchange Commission of Ghana.

The areas of co-operation include; technical assistance; capital markets product development and market deepening initiatives; regulatory policy & legal framework development; investor education; and monitoring compliance of market players with existing laws and regulations.

The signing of the MOU is in keeping with the objectives of the International Organization of Securities Commissions (IOSCO), which promotes consultation, cooperation, and exchange of information among regulators in the capital markets industry globally. Both CMA and the SEC of Ghana are members of IOSCO and belong to the Africa and Middle-East sub-committee.