IOSCO continues work to strengthen capital markets as driver of economic growth
IOSCO opens its Annual Conference today. The public sessions focus on the themes of enforcement, corporate governance, long-term financing for economic growth, and investor protection and education as drivers of investor confidence.
"The markets we regulate are becoming increasingly important sources of finance driving global economic growth. Our work agenda continues to be about building trust and confidence in global capital markets which are fair, efficient, transparent and free of systemic risk", Board Chairman Greg Medcraft said.
During the meeting the IOSCO Board, furthered a number of key initiatives which include:
- Steps to finalize the methodologies for identifying non-bank non-insurance systemically important financial institutions (NBNI SIFIs) in the market intermediary and asset management space;
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Work with the Basel Committee on Banking Supervision to support the development of sustainable securitisation markets as an important source of funding for the real economy;
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Strengthen audit quality
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Take forward the work on credible deterrence through the development of effective enforcement regimes.
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Examine how markets can play their role as a source of financing for small and medium enterprises (SMEs)
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Continue work to develop a tool kit of regulatory measures to address cross border issues
The Board noted that these initiatives are consistent with the current G20 efforts on regulatory reform and encouraging economic growth.