APPENDIX I General Information on IOSCO

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1 IOSCO is an international association of securities regulators that was created in Its General Secretariat is based in Madrid, Spain. The objectives of the Organization s members are: to cooperate together to promote high standards of regulation in order to maintain just, efficient and sound markets; to exchange information on their respective experiences in order to promote the development of domestic markets; to unite their efforts to establish standards and an effective surveillance of international securities transactions; to provide mutual assistance to promote the integrity of the markets by a rigorous application of the standards and by effective enforcement against offenses. 20 Structure of the Organization The Presidents Committee, which meets once a year during the Annual Conference, is made up of all the Presidents of member (regular and associate) agencies and has all the powers necessary or convenient to achieve the purpose of the Organization. The Executive Committee is presently chaired by Ms. Jane Diplock and composed of the following 19 members: the Chairmen of the Technical and Emerging Markets Committees, the Chairmen of each, 1 ordinary member elected by each from among the ordinary members of that region, and 9 ordinary members elected by the Presidents Committee. The Executive Committee meets periodically during the year and, subject to the By-Laws of the Organization, takes all decisions and undertakes all actions necessary or convenient to achieve the objectives of the Organization. IOSCO has the following four Regional Standing Committees, which meet to discuss specific regional problems of the members of the Organization that constitute them: the Africa / Middle-East Regional Committee, the Asia-Pacific, the European and the Interamerican. IOSCO has established two specialized working committees. The first one, the Technical Committee, is made up of fifteen agencies that regulate some of the world s larger, more developed and internationalized markets. Its objective is to review major regulatory issues related to international securities and futures transactions and to coordinate practical responses to these concerns.

2 Mr. Andrew Sheng is currently the Chairman of the Technical Committee. The work of the Technical Committee is divided into the following five major functional subject areas: Multinational Disclosure and Accounting; Regulation of Secondary Markets; Regulation of Market Intermediaries; Enforcement and the Exchange of Information; Investment Management. The Technical Committee has set up specialized Standing Committees to address each of the above mentioned subject areas along with a number of Project Teams to fulfill short-term mandates. The members of these Standing Committees and Project Teams meet several times during the year and tackle the mandates that they receive from the Technical Committee. The second specialized committee, the Emerging Markets Committee (EMC), endeavors to promote the development and improvement of efficiency of emerging securities and futures markets by establishing principles and minimum standards, preparing training programs for the staff of members and facilitating exchange of information and transfer of technology and expertise. The Chairman of the EMC is currently Mr. Dogan Cansizlar. The work of the EMC is divided into the following five major functional subject areas: 21 Disclosure and Accounting; Regulation of Secondary Markets; Regulation of Market Intermediaries; Enforcement and the Exchange of Information; Investment Management. The EMC has set up specialized Working Groups to address each of the above mentioned subject areas. It has also set up an EMC Advisory Board and a cross-sector Task Force on Corporate Governance. Self-Regulatory Organizations (SROs), that are affiliate members of the Organization, are members of the SRO Consultative Committee, which is currently chaired by Ms. Mary Schapiro. IOSCO recognizes the importance of maintaining a close dialogue with the SROs and international organizations that make up its affiliate membership and of allowing them to make a constructive input in the work of the Organization. The SRO Consultative Committee has designated contact persons with the Technical Committee Standing Committees and Project Teams and is therefore able to provide substantive input related to their regulatory initiatives. IOSCO has an Internet Home Page where public information about the Organization can be found. The members also have access to specialized databases through this Web Page.

3 IOSCO Structure Presidents Commitee AFRICA/MIDDLE EAST ASIA-PACIFIC EUROPEAN INTERAMERICAN Executive Commitee Technical Committee Emerging Markets Committee 22 General Secretariat SRO Consultative Commitee Annual Conferences IOSCO members meet every year at the Annual Conference to discuss important issues related to world securities and futures markets. Observers may attend. Registration and hotel reservation forms for the Annual Conferences are posted on the IOSCO Web Page and can also be obtained from the IOSCO General Secretariat. The 2005 Annual Conference will take place in Colombo and will be hosted by the Securities and Exchange Commission of Sri Lanka. The documents made public during the Annual Conferences can be obtained from the IOSCO General Secretariat.

4 List of Annual Conferences of IOSCO Caracas, Venezuela September 1974* Lima, Peru January 1976* Buenos Aires, Argentina November 1977* Queretaro, Mexico November 1978* Rio de Janeiro, Brazil November 1979* Montreal, Quebec September 1980* Washington, D.C., May 1982* United States of America Quito, Ecuador April 1983 Toronto, Ontario August 1984 Cartagena, Colombia June 1985 Paris, France July 1986 Rio de Janeiro, Brazil September 1987 Melbourne, Australia November 1988 Venice, Italy September 1989 Santiago, Chile November 1990 Washington, D.C., September 1991 United States of America London, United Kingdom October 1992 Mexico City, Mexico October 1993 Tokyo, Japan October 1994 Paris, France July 1995 Montreal, Quebec September 1996 Taipei, Chinese Taipei November 1997 Nairobi, Kenya September 1998 Lisbon, Portugal May 1999 Sydney, Australia May 2000 Stockholm, Sweden June 2001 Istanbul, Turkey May 2002 Seoul, Korea May 2003 Amman, Jordan May 2004 Colombo, Sri Lanka April 2005 Hong Kong, China June 2006 Mumbai, India May * Conferences of the Interamerican ancestor organization of IOSCO Categories of Members There are three categories of members: Ordinary, Associate and Affiliate. Each ordinary member has one vote. The associate members have no vote and are not eligible for the Executive Committee; however, they are members of the Presidents Committee. The affiliate members have no vote, are not eligible for the Executive Committee and are not members of the Presidents Committee. The affiliate members, which are SROs, are however members of the SRO Consultative Committee. Financial Contribution of Members The Organization is financed by an annual contribution of its members that is currently set at Euros.

5 Applications for Membership A securities commission, or a similar government body, that is not presently a member is eligible for ordinary membership of IOSCO. If there is no governmental regulatory body in a jurisdiction, a self-regulatory body, such as a stock exchange, from that jurisdiction is eligible for ordinary membership of the Organization. Applications for ordinary membership must include: A brief description of securities regulation in the applicant s jurisdiction, including the bodies which exercise regulatory functions with regard to securities in that jurisdiction; A translation of the primary securities legislation of that country in one of the official languages of the Organization (English, French, Portuguese and Spanish); A Declaration, signed by the President of the applicant, that the body has received and accepts the present By-Laws and Resolutions adopted by the Presidents Committee. If the national regulatory body of a country is already an ordinary member, an association that consists of the public regulatory bodies with jurisdiction in the subdivisions of that country is eligible for associate membership. Any other eligible body with an appropriate responsibility for securities regulation is also eligible for associate membership. 24 Applications for associate membership must include a description of the applicant and its mission. An SRO, or an international body, with an appropriate interest in securities regulation, is eligible for affiliate membership of the Organization. Applications for affiliate membership must include: A description of the applicant and its mission; A recommendation letter by the ordinary member, or ordinary members, of the applicant s country (if applicable). A body will become an IOSCO member if its application is accepted by the Presidents Committee upon the recommendation of the Executive Committee. All applications for membership must be sent to the Secretary General accompanied by the prescribed membership contribution of Euros. R equests for information should be sent to: General Secretariat International Organization of Securities Commissions (IOSCO) Oquendo Madrid SPAIN Tel: (34 91) Fax: (34 91) mail@oicv.iosco.org Website: