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21 February 2005

IOSCO: Consultation on anti market timing for CIS





The International Organisation on Securities Commissions (IOSCO) issued a consultation report on best practices standards on anti market timing and associated issues for Collective Investment Schemes (CIS), describing market timing and its associated issues, and their detrimental effects on CIS and their investors. The report then identifies the best practice standards relating to CIS and market timing. Those standards address the tools that are available to CIS operators to deter detrimental market timing of CIS shares, as well as the obligations of CIS operators to employ those tools.

In May 2004 the IOSCO Technical Committee gave a mandate to the Standing Committee on Investment Management (SC5) on market timing and associated issues in connection with collective investment schemes (CIS). The purpose of the Mandate was to examine whether, and if so what, steps are taken by different regulators to address issues arising from market timing. This information was to be used to develop international best practice standards in this area, by identifying what regulators should seek to achieve when dealing with the issues raised by market timing.

Comments are to be sent by 18 May 2005

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© IOSCO


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