22 February 2016

IOSCO plays a key role in responding to global securities markets’ challenges

IOSCO met to discuss and respond to the many ongoing and emerging challenges facing global securities markets. ‘The meeting again underscored IOSCO’s role as the key reference point for global securities regulation, through our work firstly in identifying and responding to emerging risks, secondly in assisting our members in building capacity and co-operating to develop, supervise and enforce laws and thirdly acting as an advocate for the collective interest of our members,’ said Board Chairman Greg Medcraft. ‘These are exciting and challenging times for securities regulators – and IOSCO is playing a key role in responding,’ he added.

The Board:

• agreed on further research on financial technology subsectors with particular relevance for securities regulators, including blockchain.

• supported further work on the use and regulation of automated advice tools in securities markets and understanding the risks arising from the use of cloud technology;

• discussed a report on IOSCO’s work addressing the challenges of cyber risk;

• heard updates on the work of the Growth and Emerging Markets Committee on digitization and fintech.

The roundtable discussion with leading market analysts on block chain, highlighted the potential new financial technologies can have to improve global market efficiencies, and provide emerging market jurisdictions with the infrastructure needed to further develop their capital markets.

Discussions with Governor Carney on asset management, CCPs and market conduct were an opportunity for the Board to underscore and advocate IOSCO’s shared objectives with the FSB, as well as ensuring consistent implementation of market reforms, building strong capital markets and responding to potential risks. Board members agreed to explore further opportunities to strengthen the cooperation between the two organizations.

Full press release

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