IOSCO letter to FSB/Carney on long-term investment

28 October 2013

The work IOSCO proposes is particularly critical in response to the recent call made by the G20 Leaders to identify measures to facilitate domestic capital market development and improve the intermediation of global savings for productive long-term investments.

ISOCO is working with the G20 Secretariat to the Australian Presidency to ensure this work is aligned with the G20 Agenda for 2014. As part of its work in this area, IOSCO, through its General Secretariat, is conducting research on the functioning of corporate bond markets.

Peer-to-peer lending and equity crowd funding are rapidly emerging in many markets as alternatives to increasingly scarce bank funding. Many IOSCOs members are considering (or have progressed) policy responses. The Policy responses so far raise important issues about the balance between investor protection and the role equity markets can play in supporting economic recovery and growth. I have asked the IOSCO Committee on Investment Management, in collaboration with the IOSCO's Committees on Market Intermediaries and Retail Investors to develop a mandate urgently to address the key issues and guide the development of global regulatory approaches in this emerging area.

Full letter

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