The European Securities and Markets Authority (ESMA) has published the text of a new multilateral memorandum of understanding (MMoU) between EEA national competent authorities, and between national competent authorities and ESMA which entered into force on 29 May 2014. It has been signed by 29 authorities in the securities and markets area.

The purpose of the new MMoU is to facilitate cooperation arrangements and the exchange of information between national competent authorities, and between national competent authorities and ESMA, in the application of their responsibilities under EU law relating to the securities and markets area.

The MMoU also updates and replaces a previous agreement on the Exchange of Information and Surveillance of Securities Activities agreed by the members of the Committee of European Securities Regulators.