The International Organization of Securities Commissions (IOSCO) has published a press release following a meeting on key issues facing global financial markets and securities regulators. Discussions centred around IOSCO’s role in shaping the long-term architecture of global capital markets.
Among other things, the press release notes that:
- issues relating to emerging markets were discussed extensively. The steering committee of emerging market regulators reaffirmed their commitment to strengthening the resilience of emerging markets by strengthening institutional structures, adopting a more forward-looking and pro-active approach in risk identification, and building regulatory capacity;
- progress had been made on a number of initiatives to enhance the functioning of securities markets globally. In particular, the meeting progressed work streams on ending too-big-to-fail, shadow banking and building resilient over-the-counter derivatives markets;
- a new task force on long term finance will carry work forward on long-term investment. The new committee will examine the impediments to long-term financing through capital markets and consider measures regulators can pursue to encourage its development;
- a number of emerging issues were discussed including crowdfunding. The work on crowdfunding will grapple with the difficult balance regulation needs to strike between supporting innovation and ensuring investors understand the risks they face when investing in growth businesses; and
- the membership application of the Palestine Capital Market Authority had been accepted and that this authority becomes the 101st signatory to the IOSCO Multilateral Memorandum of Understanding.