Four years ago, global regulators made it their goal to get all 115 securities commissions worldwide to agree to a pact on market enforcement by the end of 2009. So far, 63 countries are sharing market-abuse and insider-trading information as part of the International Organisation of Securities Commission's memorandum of understanding. Tunisia is poised to sign the MOU, and 46 other countries have vowed to make changes so they can participate. IOSCO declined to identify the five countries that are not participating.

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