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1 1.The Securities and Investments Board of the United Kingdom ("SIB") and the Securities and Exchange Commission in Taipei ("SEC") ("the Signatories") recognise the increasing internatio-nal activity in the futures and options markets of the UnitedKingdom and Taiwan("derivatives markets"), and the correspond-ing need for mutual co-operation between the Signatories.2.The Signatories believe that, as international participationin derivatives markets continues to grow, it becomes increasi-ngly important to establish arrangements for the Signatoriesto exchange supervisory, surveillance and investigatory infor-mation in order to assist each other in securing compliance w-ith the laws, regulations and rules of the United Kingdom andTaiwan relating to derivatives markets, to the extent permitt-ed by the law of each country. This should serve to improve t-he protection of investors, to help to strengthen the adequat-e supervision and effective regulation of the derivatives bus-iness, to enhance the supervision of cross-border transactionsin derivatives products, and to prevent fraudulent and otherprohibited practices, thus protecting the integrity of the de-rivatives markets.3.The Signatories agree to consider carefully each request forinformation from the other relating to supervision, surveilla-nce, and investigation as described in paragraph 2 above. Inorder to facilitate the timely processing of requests, the Si-gnatories agree to appoint as contact persons those designatedin Appendix A.4.This Memorandum represents an important step towards improvingco-operation between the Signatories in the supervision of th-eir respective derivatives markets. The Signatories look forw-ard to a productive relationship, and agree in principle to n-egotiate in good faith additional measures relating to the ex-change of information should such measures prove necessary orappropriate.Signed this 16th day of June 1993.[Signed][Signed]Andrew LargeLinin DayChairmanChairmanSecurities and InvestmentsSecurities and ExchangeBoard of the United Kingdom Commission in TaipeiAppendix AContact Points■The Securities and Investments Board:Group Director, Compliance and EnforcementGavrelle House2-14 Bunhill RowLondon EC1Y 8RATelephone: 44 71 638 1240Fax: 44 71 382 5906■The Securities and Exchange Commission in Taipei:General CounselSecurities and Exchange CommissionMinistry of Finance12th Floor3 Nan-hai RoadTaipei 10728Taiwan, Republic of ChinaTelephone:886 2 356 0950Fax: 88623948249 1