S'pore, France sign deal

S'pore, France sign deal

SINGAPORE (AFP): The Monetary Authority of Singapore (MAS) and France's Commission des Operations de Bourse have signed an agreement to cooperate on regulatory issues, the MAS said in a statement Thursday.

The memorandum of understanding calls on Singapore and French regulatory authorities "to provide mutual assistance and exchange information necessary for investigations into offenses and fraudulent practices regarding securities and futures transactions," the MAS said.

The two bodies will also cooperate in facilitating the enforcement of securities laws and regulations, it added. The MAS is the de facto central bank of the island-state.

The memorandum of understanding was signed Tuesday and comes after the formation of the GLOBEX Alliance, which groups the Singapore International Monetary Exchange, Paris Bourse, Chicago Mercantile Exchange, the Montreal Exchange, and Brazil's Bolsa de Mercadorias y Futuros.