10.3 International Regulatory Frameworks and Cooperation

The framework's architecture (by name): IOSCO — the securities regulators' international organisation (the standard-setting's core: the Objectives and Principles of SecuritiesRegulation — the three pillars: investor protection, fair-efficient-transparent markets, systemic- risk reduction; the Multilateral MoU — the cross-border enforcement cooperation's instrument); the Financial Stability Board-and-the-standard-setters' network (the post-2008 architecture); the BCBS-and-IOSCO-and-IAIS triad (the banking-securities-insurance family); the FATF (the money-laundering layer — the securities firms' AML duties); the bilateral-and- regional regimes (the EU's passporting; the ASEAN-and-SAARC cooperation faces); and the double- taxation-treaty network. Nepal's seat: SEBON's IOSCO membership-and-engagement (the standards' domestication; the emerging-markets committee faces) — the small market's internationalisation through the networks.