IOSCO focuses on challenges facing securities regulators

International Organization of Securities Commissions (IOSCO) has resolved to focus on key issues affecting regulators worldwide and proffer ways of tackling the challenges

This was part of the resolutions reached at the organization´s 43rd Annual Conference in Budapest, Hungary.

The conference also featured meetings by the IOSCO Board, IOSCO´s Growth and Emerging Markets (GEM) Committee, the four Regional Committees and the Affiliate Members Consultative Committee (AMCC).

The public sessions of the conference deliberated on four key issues: (1) the sale of unsuitable products to retail investors; (2) the challenges of Fintech and digitalization, (3) the shift from active to passively managed collective investment schemes, and (4) SME access to funding through capital markets.

In his remarks, Ashley Alder, Chair of the IOSCO Board, said: “IOSCO members have taken important steps this week to advance IOSCO´s priority work in focused areas such as market resilience, financial technologies, and information sharing among securities market regulators, while addressing the biggest risks to investor protection, market integrity and financial stability.”

The Board discussed how best to approach the continuing growth of Initial Coin Offerings (ICOs). It agreed to develop a Support Framework to assist members as they consider how to address the domestic and cross-border issues stemming from coin offerings that could impact investor or consumer protection.

Ag. DG of Securities and Exchange Commission (SEC) Nigeria, Ms Mary Uduk pledged the determination of the SEC in advancing the initiatives which she said are aimed at protecting investors, ensuring fair, efficient and transparent markets, and mitigating systemic risk.