INTERNATIONAL REGULATORS

The need for regulation is world wide and regulations vary from country to country. The International Organization of Securities Commissions (OSCO) is an organization of securities commissions around the world established to cooperate to promote high standards of regulation, to exchange information and to unite to establish standards and effective surveillance of international securities transactions.

A few of the international securities commissions are highlighted below and followed by a list of world wide securities commissions.

Australian Securities and Investments Commission (ASIC)

The Australian Securities and Investments Commission (ASIC)is one of three Commonwealth government bodies that regulate financial services and is the single national regulator of Australia's 1.2 million companies. The ASIC:

protects investors, superannuants, depositors and insurance policy holders.
regulates and enforces laws that promote honesty and fairness in financial markets, products and services and in Australian companies
underpins the strength, growth and international reputation of Australia's financial markets
maintains a public database on Australia's 1.2 million companies to provide certainty in commercial dealings, and
works with other financial, consumer and law enforcement bodies in Australia and internationally.

Hong Kong Securities and Futures Commission

The Hong Kong Securities and Futures Commission (HKFSC) regulates Hong Kong's securities, futures and related financial markets.

U.K. Financial Services Authorty

The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. The FSA is now the single statutory regulator responsible for regulating deposit taking, insurance and investment business. The FSA ia also responsible for tackling market abuse, promoting public understanding of the financial system and reducing financial crime.

U. S. Commodity Futures Trading Commission

The Commodity Futures Trading Commission (CFTC) was created by Congress in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The agency protects market participants against manipulation, abusive trade practices and fraud. Through effective oversight and regulation, the CFTC enables the markets to serve better their important functions in the nation's economy--providing a mechanism for price discovery and a means of offsetting price risk.

U.S. National Association of Securities Dealers (NASD)

The National Association of Securities Dealers (NASD) in the United States is the largest securities industry self-regulatory organization in the world. Through its subsidiaries, NASD Regulation Inc., NASD Dispute Resolution Inc., and the American Stock Exchange, the NASD develops rules and regulations, conducts regulatory reviews of members business activities, disciplines violators, provides arbitrations and mediation services and regulates securities markets for the benefit oand protection of the investor.

U.S. Securities and Exchange Commission (SEC)

The primary mission of the Securities and Exchange Commission (SEC) is to protect investors and maintain the integrity of the securities markets. The SEC requires public companies to disclose meaningful financial and other information to the public. The SEC also oversees other key participants in the securities world, including stock exchanges, broker-dealers, investment advisors, mutual funds, and public utility holding companies. The SEC is concerned primarily with promoting disclosure of important information, enforcing the securities laws, and protecting investors who interact with these various organizations and individuals. Though it is the primary overseer and regulator of the U.S. securities markets, the SEC works closely with many other institutions, including Congress, other federal departments and agencies, the self-regulatory organizations (e.g. the stock exchanges), state securities regulators, and various private sector organizations.