On 16 December 2019, the International Organization of Securities Commissions (IOSCO) published a consultation paper with proposed guidance addressing potential conflicts of interest and associated conduct risks that stem from market intermediaries in the debt capital raising process.

The proposed guidance consists of eight measures relating to the pricing of debt securities and related risk management transactions, the quality of information available to investors and the allocation of debt securities.

Additionally, the consultation seeks comments on the use of distributed ledger technology (DLT) in bond issuances and potential benefits and risks of using the technology.

The deadline for comments to the consultation is 16 February 2020.