Angola’s Capital Market Commission (CMC) has been officially admitted as an ordinary member of the International Organisation of Securities Commissions (IOSCO), the institution announced in a statement released in Luanda.
The CMC officially transitioned from an associate member to an ordinary member in June, after the signing of the respective IOSCO multilateral memorandum of understanding (MMoU), the statement adds.
CMC chair Vera Daves indicated in the statement that joining IOSCO “has an undeniable influence on ensuring that the Angolan financial system is credible.” The institution she heads now “has the right and responsibility to share information about the securities market and transactions that take place therein.”
The CMC’s IOSCO membership process lasted five years. It began during the term of the board of directors headed by Archer Mangueira, now the Minister of Finance.
The status of ordinary member of the organisation confers a certificate of quality on Angolan legislation concerning the securities market.
IOSCO is an international body comprising securities market regulators. It was officially founded in 1983 when the Inter-American Regional Association (founded in 1974) decided to expand and have a worldwide focus. (Macauhub)