On April 29, 2008, the Capital Market Development Authority of the Maldives (CMDA) applied for ordinary membership in IOSCO.

On June 5, 2008, the IOSCO General Secretariat assigned to Verification Team 5 (VT 5) the task of assessing the CMDA’s eligibility to sign the MoU. The members of VT 5 are the securities regulatory authorities of British Columbia, France, the Netherlands, and India. British Columbia was the lead jurisdiction, or penholder, for this assessment.

On August 14, 2009, IOSCO sent to CMDA the final report concerning the CMDA’s eligibility to sign the MMoU, in which VT 5 recommends approval.The final decision will be taken in June 2010.

 

On September 23, 2009, CMDA received the final report regarding the IOSCO application. The Screening Group has confirmed the recommendation of VT 5 that the CMDA be invited to sign the IOSCO MMoU.