To consider ways to reduce the complexity of its own decision making process, IOSCO conducted a pilot exercise to develop a framework for improving the process of selecting issues to be addressed.
To consider ways to reduce the complexity of its own decision making process, IOSCO conducted a pilot exercise to develop a framework for improving the process of selecting issues to be addressed.
Financial organizations and regulators have been making increasing use of formalized tools for assessment and prioritization of strategic issues. For instance, as far as prudential risks are concerned, Basel II capital adequacy rules have implemented “more risk sensitive minimum capital requirements for banking organizations” and prompted banks to develop risk assessment techniques.
Through the framework, SC5 has attempted to conduct a first attempt at identifying strategic priorities by assessing global trends, considering new products and market trends. The framework has highlighted the need for better and more harmonized statistical data concerning CIS. IOSCO may wish to consider establishing formal relations with international organizations with a view to gaining additional insight into available CIS statistics and their methodologies, and possibly to obtain additional data.
The framework provides a formalized process for identifying strategic priorities that reflects global trends in the CIS and asset management industry. The publication of this Report may further enhance SC5‟s decision making processes. While the TC might not necessarily authorize SC5 to undertake work in any specific area that is identified in this Report, and SC5 might not necessarily seek TC authorization to undertake such work, this paper provides some insight to investors and market participants about SC5‟s possible work efforts. The framework may be useful to other groups, task forces and committees of IOSCO in identifying their strategic priorities.
Final report
© IOSCO
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article