[The International Organization of Securities Commissions](http://www.iosco.org/) (IOSCO) met this week at its Annual Conference in London to progress its work across its policy, research, capacity building and co-operation agenda. IOSCO’s private meetings preceded public sessions focusing on the theme of Building a New Financial World which will focus on conduct standards, financial innovation and the many other challenges which financial regulators and industry face.
*”Our work agenda continues to highlight and reinforce our role as the key global reference point for securities regulation during a period of rapid change”*, IOSCO Board Chairman Greg Medcraft said. *”We continue to be proactive and forward looking in building trust and confidence in markets which are grappling with new and emerging opportunities and risks, including those posed by digitization.”*
Organizational and Policy Issues
The Board discussed the Strategic Direction for IOSCO to 2020 and the resourcing and funding of Action Plans to implement it. The Strategic Direction was approved Wednesday by the Presidents Committee, which is comprised of all the Chairs of ordinary and associate members and meets once a year at the Annual Conference.
The Strategic Direction envisages that IOSCO’s Goal for the rest of this decade will be to reinforce its position as the key global reference point for securities regulation.
The Strategic Direction and Goal will be implemented through 43 initiatives in Action Plans covering six priority areas.
* Research and Risk Identification: Identifying risks arising from securities markets, including market activities, technology and product developments, and unintended consequences of changes or proposed changes in laws and regulations;
* Standard Setting and Developing Guidance: Improving the international regulatory framework for securities markets by developing standards and guidance that are timely, responsive to market developments and internationally recognized;
* Implementation Monitoring: Promoting implementation of IOSCO standards through monitoring and assessment;
* Capacity Building: Addressing capacity building needs of its members, particularly in growth and emerging markets;
* Co-operation and Information Exchange: Strengthening the exchange of information and co-operation in the enforcement of markets regulation, and in the supervision of markets and market intermediaries; and
* Collaboration and Engagement with other International Organizations: Ensuring effective representation of IOSCO’s views in other international organizations and effective collaboration with other standard setters within the international financial regulatory community.
*”The Strategic Direction to 2020 builds on our achievements in recent years by intensifying activity across each of our programs. This is what our members are telling us they want. It will benefit all members – with a particular emphasis on members from Growth and Emerging Markets”*, Chairman Medcraft said.
IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation. The organization’s membership regulates more than 95% of the world’s securities markets in more than 115 jurisdictions
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