Angolan capital market commission joins International Organization of Securities Commissions

BY  | FROM  | 2017-08-29 15:47

The Angolan Capital Market Commission (CMC) has been admitted as an ordinary member of the International Organization of Securities Commissions (IOSCO), Xinhua has learnt on Monday in Luanda.

With this admission, CMC has accomplished one of its strategic goals of providing to the Angolan financial system a transparent and efficient securities market.

The admission of the Angolan institution as an IOSCO member confirms the recognition by its international counterparts of the existence of regulatory and institutional conditions for full operation of the Angolan capital markets.

Speaking about the official admission of her institution, the Chairperson of the Angolan Capital Market Commission, Vera Daves, said that this step is very important for the credibility of the national financial system.

As IOSCO ordinary member, CMC will be able to participate in various committees where securities regulators around the world share relevant information.

The Angolan capital market will also have access to a set of tools through technical assistance mechanisms that will enable CMC to enhance its market surveillance capability.

The CMC accession process lasted for five years. The statute of ordinary member provides a certificate of quality to Angolan legislation regarding the securities market.

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