The Joint Forum, a group of senior financial sector supervisors from the Basel Committee on Banking Supervision, the International Organization of Securities Commissions, and the International Association of Insurance Supervisors (IAIS), has released the final version of its paper titled Report on Special Purpose Entities (report).

The report outlines the background on the variety of special purpose entities found across financial sectors, incentives of market participants to use these entities, and risk management issues that arise from their use. The report also proposes policy implications and issues for consideration by market participants and the supervisory community.