The Board of the International Organization of Securities Commissions (IOSCO) met in Toronto to reinforce IOSCO’s position as the key global reference point for financial services and markets regulation.
The Board discussion focused on three sets of activities in key priority areas as identified in the IOSCO 2020 Strategic Direction: (i) identifying and responding through guidance to global market risks; (ii) providing assistance to IOSCO members; and (iii) supporting the G20 efforts to promote stability in the global financial system.
Specifically, and amongst other things, the Board discussed:
- progress in IOSCO’s work on asset management and agreed to publish a report on liquidity risk management in collective investment schemes. The Board further decided to conduct work on enhancing collection of data about asset management activity and considered developing guidance on liquidity risk management beyond its 2013 principles (including on stress testing); and
- its work in other key areas, including the risks posed by central counterparties, market conduct, cyber resilience and audit quality, discussed progressing recommendations in the recently published report on cross border regulation and endorsed work to provide further guidance to financial benchmark administrators and crowd funding.