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Bilateral Agreements

Bilateral Agreements or Memoranda of Understanding – MoU are information exchange agreements signed between two regulators whose scope may range from the exchange of public information (regulatory aspects, market participant data) up to confidential information exchange for enforcement purposes.

Well before the establishment of the IOSCO MMOU, expansion of cross-border transactions involving securities and derivatives prompted the need to closer cooperation among regulators to ensure better investor protection and market integrity, leading to the entering into of a large number of bilateral agreements.

However, considering that the number of IOSCO MMOU signatories exceeded one hundred recently (2014), thus increasing the number of requests for assistance under that agreement, operation of bilateral MoUs has decreased, especially with respect to information exchange for enforcement purposes.


A list of bilateral MoU signed by the CVM follows:

  

ARGENTINA

Organism: Comisión Nacional de Valores (CNV)
Signature: December 17, 1991
Signatories: Ary Oswaldo Mattos Filho, CVM Chairman
Martín P. Redrado, CNV Chairman
Languages: Portuguese and Spanish

 

 

AUSTRALIA

Organism: Australian Securities Commission (ASC)
Now known as Australian Securities and Investments Commission (ASIC)
Signature: November 7, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Alan Cameron, ASC Chairman
Languages: Portuguese and English

 

 

BOLIVIA

Organism: Superintendencia Nacional de Valores de Bolívia (SNV)
Now known as Superintendencia de Pensiones, Valores y Seguros (SPVS)
Signature: November 20, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Guido Pena Von Borries, SNV Chairman
Languages: Portuguese and Spanish

 

 

CANADA (QUÉBEC)

Organism: Autorité Des Marchés Financiers - AMF (Former Commission des Valeurs Mobiliéres du Quebéc (CVMQ))
Signature: March 23, 1998
Signatories: Francisco da Costa e Silva, CVM Chairman
Jean Martel, CVMQ Chairman
Languages: Portuguese and French

 

 

CAYMAN ISLANDS

Organism: Cayman Islands Monetary Authority - CIMA
Signature: February 24, 2009
Signatories: Maria Helena dos Santos Fernandes de Santana, CVM Chairman
Cindy Scotland, CIMA's Director.
Languages: Portuguese and English

 

 

CHILE

Organism: Superintendencia Valores y Seguros (SVS)
Signature: June 21, 1996
Signatories: Francisco da Costa e Silva, CVM Chairman
Daniel Yarur Elsaca, SVS Chairman
Languages: Portuguese and Spanish

 

 

CHINA

Organism: China Securities Regulatory Commission ( CSRC)
Signature: November 13, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Zhou Zhengqing, CSRC Chairman
Languages: Portuguese, Chinese and English

 

ECUADOR

Organism: Superintendencia de Compañias
Signature: June 21, 1996
Signatories: Francisco da Costa e Silva, CVM Chairman
Juan Carlos Arízaga González, Superintendencia de Compañias Chairman
Languages: Portuguese and Spanish

 

 

ESMA

Organism: ESMA - European Securities and Markets Authority
Signature: July 21, 2013
Signatories: Signatories List
Language: English

 

FRANCE

Organism: Commission des Opérations de Bourse (COB)
Signature: October 10, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Michel Prada, COB Chairman
Languages: Portuguese and French

 

 

GERMANY

Organism: Bundesaufsichtammt für den Wertpapierhandel (BAWe)
Now known as Bundesanstalt für Finanzdienstleistungsaufsicht (BAFi)
Signature: May 26, 1999
Signatories: Francisco da Costa e Silva, CVM Chairman
Georg Wittich, BAWe Chairman
Languages: Portuguese, German and English

  

 

GREECE

Organism: Ellhnikh Dhmokratia Epitpoph Kefalaiagoras (Hellenic Capital Markets Commission)
Signature: May 17, 2000
Signatories: José Luis Osorio, CVM Chairman
Stravos Thomadakis, EDEK Chairman
Languages: Portuguese, Greek and English

 

 

HONG KONG

Organism: Securities and Futures Commission (SFC)
Signature: May 30, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Anthony Neoh, SFC Chairman
Languages: Portuguese and English

 

 

INDIA

Organism: Forward Markets Commission of India - FMC
Signature: January 26 2010
Signatários: Maria Helena dos Santos Fernandes de Santana, CVM Chairman
B. C. Khatua, FMC CEO
Languages:English

 

 

ISRAEL

Organism: Israel Securities Authority - ISA
Signature: March 20, 2006
Signatories: Marcelo Fernandez Trindade, CVM Chairman
Moshe Tery, ISA Chairman
Languages: Portuguese, Hebrew and English

  

 

ITALY

Organism: Commissione Nazionale per le Societá e la Borsa da Italia - CONSOB
Signature: March 6, 1996
Signatories: Francisco da Costa e Silva, CVM Chairman
Enzo Berlanda, CONSOB Chairman
Languages: Portuguese, Italian and English

(undisclosed agreement due to a CONSOB request)

 

LUXEMBOURG

Organism: Commission de Surveillance du Secteur Financier
Signature: October 6, 2000
Signatories: José Luis Osorio, CVM Chairman
Jean Nicholas Schauss, CSSF CEO
Languages: Portuguese and English

 

 

MALAYSIA

Organism: Suruhanjaya Sekuriti (Securities Commission (SEC))
Signature: November 7, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Mohd Munir Abdul Majid, SEC Chairman
Languages: Portuguese and English

 

 

MEXICO

Organism: Comisión Nacional Bancária y de Valores - CNBV
Signature: November 16, 1990
Signatories: Ary Mattos Filho, CVM Chairman
Oscar Espinosa Villarreal, CNBV Chairman
Language: Spanish

(undisclosed agreement due to a CNBV request)

 

OECD

Organism: Organization for Economic Co-Operation and Development - OECD
Signature: April 29 2016 by the CVM and May 12 2016 by OCDE
Signatories: Leonardo Gomes Pereira, CVM CEO
Rintaro Tamaki, OECD Deputy Secretary-General
Languages:English

 

PARAGUAY

Organism: Comisión Nacional de Valores - CNV
Signature: November 24, 1994
Signatories: Thomás Tosta de Sá, CVM Chairman
Herman Velilla Garcia, CNV Chairman
Language: Portuguese and Spanish

 

 

PERU

Organism: Comisión Nacional Supervisora de Seguros y Valores (CONASEV)
Signature: June 21, 1996
Signatories: Francisco da Costa e Silva, CVM Chairman
Alberto Yagui Tomona, CONASEV Chairman
Languages: Portuguese and Spanish

 

 

PORTUGAL

Organism: Comissão do Mercado de Valores Mobiliários - CMVM
Signature: July 7, 1995
Signatories: Thomás Tosta de Sá, CVM Chairman
Álvaro Cordeiro Dâmaso, CMVM Chairman
Language: Portuguese

 

ROMANIA

Organism: Comissão Nacional de Valores Mobiliários da Romênia
Signature: September 20, 2004
Signatories: Marcelo Fernandez Trindade, CVM Chairman
Gabriela Anghelache, CNVM Chairman
Languages: Portuguese and English

 

 

RUSSIA

Organism: Federal Financial Markets Service (FFMS)
Signature: May 12, 2006
Signatories: Marcelo Fernandez Trindade, CVM Chairman
Oleg Vyugin, FFMS Chairman
Languages: Portuguese and English

 

 

SINGAPORE

Organism: Monetary Authority of Singapore (MAS)
Signature: February 22, 2001
Signatories: José Luis Osorio, CVM Chairman
Tharman Shanmugaratnam, MAS Financial Supervision Vice Director
Languages: Portuguese and English

 

 

SOUTH AFRICA

Organism: Financial Services Board (FSB)
Signature: June 25, 2001
Signatories: José Luiz Osorio, CVM Chairman
J. van Rooyen, FSB Executive Officer
Languages: Portuguese and English

 

SPAIN

Organism: Comisión Nacional del Mercado de Valores - CNMV
Signature: March 12, 1996
Signatories: Francisco da Costa e Silva, CVM Chairman
Luis Carlos Croissier Batista, CNMV Chairman
Languages: Portuguese and Spanish

 

 

TAIWAN

Organism: Securities and Futures Commission (SFC)
Signature: November 7, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Daung-yen Lu, SFC Chairman
Language: Portuguese and English

 

 

THAILAND

Organism: Securities and Exchange Commission (SEC)
Signature: November 31, 1997
Signatories: Francisco da Costa e Silva, CVM Chairman
Pakorn Malakul Na Ayudhya, SEC Chairman
Language: English

 

UNITED ARAB EMIRATES

Organism: Securities & Commodities Authority - SCA
Signature: September 16 2013
Signatories: Leonardo Gomes Pereira, CVM Chairman
H. E. Abdullah S. Al Turifi, SCA CEO
Languages: Portuguese, English and Arabic

  [arabic]

 

UNITED STATES OF AMERICA

Organism: Securities and Exchange Commission (SEC)
Signature: July 1, 1988
Signatatories: Arnoldo Wald, CVM Chairman
David S. Ruder, SEC Chairman
Language: English

Organism: Securities and Exchange Commission (SEC)
Signature: July 2012
Signatories: Maria Helena Santana, CVM Chairman
Mary L. Shapiro, SEC Chairman
Language: English

Organism: Commodity Futures Trading Commission - CFTC
Signature: April 12, 1991
Signatories: Ary Oswaldo Mattos Filho, CVM Chairman
Wendy L. Gramm, CFTC Chairman
Language: English

Organism: Financial Industry Regulatory Authority - FINRA
Signature: July 26 2013
Signatories: Leonardo Gomes Pereira, CVM Chairman
Richard G. Ketchum, FINRA Chairman and CEO
Languages: English