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9 September 1998
News Release
SECURITIES AGREEMENT WITH PAPUA NEW GUINEA
The Securities Commission wishes to announce that it has concluded a Memorandum of Understanding with the Securities Commission of Papua New Guinea.
The memorandum was signed by the two chairmen, Mr Euan Abernethy and Mr Anthony Beven. It provides for the two Commissions to exchange supervisory, surveillance and investigatory information. The aim is to assist each other in securing compliance with rules of law and practice about securities and futures markets to the extent permitted by the law of each jurisdiction.
Both Commissions are members of the International Organisation of Securities Commissions and are committed to the aims of that organisation, in particular, mutual co-operation. The securities markets are complex and changing. Effective co-operation between jurisdictions is increasingly important with the rapid growth in electronic and cross border trading.
The MOU with Papua New Guinea is similar to the agreement the Securities Commission has with its counterpart in Australia.
Further information: Norman Miller 04 472 9830
Contact:
Catherine Chapman, Communications Officer, 04 472 9833 ext 840
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