Members of the International Organization of Securities Commissions (IOSCO) have approved the Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU), which offers securities regulators new enforcement powers for responding to the challenges arising from recent developments in global financial markets. Since its launch in 2002,  the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (M MoU) has provided securities regulators around the world with key tools to fight cross-border financial fraud and misconduct that can weaken global markets and undermine investor confidence