On 26th March 2009, securities regulators from eight Mediterranean countries signed a Charter to establish the Mediterranean Partnership of Securities Regulators that will set out the conditions and practical terms for enhancing their cooperation in financial market regulation and supervision.

The charter aims to strengthen national regulations on the basis of common requirements, thereby favouring product security and investor protection and supporting the rapid expansion of financial flows in the region.

The institutional partnership was established with the operational objectives to:

-standardise regulatory methods and procedures;

-draft common standards, close to those in force in Europe, to promote cooperation among authorities and ultimately the signature of mutual recognition agreements.

To achieve those objectives it has been decided to:

-determine a training programme. The first seminar organised in cooperation with the European Institute of Financial Regulation is scheduled for 26-27 March 2009 in Paris, on the theme of market surveillance and the oversight of intermediaries;

-form groups of operational experts on asset management, including on cross-border aspects, and rules on securities issuance, notably in terms of financial reporting.

Signatories of the Charter are Algeria, Egypt, France, Italy, Morocco, Portugal, Spain, and Tunisia. Membership of the Partnership is open to securities regulators from countries participating in The Barcelona process, Union for Mediterranean.

Please find attached the Charter in English and French.

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