On 30 January 2020, the International Organization of Securities Commissions (IOSCO) published its annual work programme for 2020. The IOSCO Board has identified, amongst other things, five priority issues for 2020, namely:

  • cryptoassets: In February 2020, IOSCO will publish its final report on issues, risks and regulatory considerations relating to crypto-asset. IOSCO will also finalise a regulatory risk review around investment funds with exposures to crypto-assets due to be completed in early 2020. Ongoing work in relation to ‘Global Stablecoins’ will continue throughout 2020 with a report expected early 2020;
  • market fragmentation: IOSCO will analyse potentially harmful market fragmentation and will work to identify good practices that can assist regulators when they establish processes for deference and deepening supervisory cooperation;
  • artificial intelligence and machine learning: During 2020, IOSCO will consult on the use of artificial intelligence and machine learning by market intermediaries and asset managers and expects to publish a final report by the end of the year;
  • passive investing and index providers: IOSCO is developing a thematic analysis of the impact of the growth of passive investing on equity capital markets. Additionally, IOSCO has also launched a review of conduct-related issues in relation to index providers. The findings of this work will be delivered in a report to the IOSCO board in late 2020; and
  • retail distribution and digitalisation: In 2020, IOSCO will build on its recent work on over-the-counter leveraged products and intends to develop a toolkit of policy measures to address and mitigate the risks posed by online cross-border marketing and distribution. The toolkit will also contain guidance on enforcement approaches.