IOSCO intensifies work on Market-Based Finance
12 June 2014
The Board of the International Organization of Securities Commissions met in Madrid to drive forward IOSCO’s work on market-based finance.
Chairman Greg Medcraft said ‘Capital markets are emerging as a key source of the finance needed across the globe to drive economic growth. Through a work agenda focused on fostering markets as a trusted source of capital, IOSCO is playing an important role in supporting that growth.’
On initiatives to support the G20-FSB efforts to restore stability in the global financial system and build economic growth, the Board progressed:
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Methodologies for identifying non-bank global systemically important financial institutions or activities in the areas of asset management and market intermediaries.
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The role capital markets and securities regulators can play in supporting long-term finance, including infrastructure investment and SME financing.
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•The implementation of IOSCO Principles on Financial Benchmarks, the IOSCO Principles for Oil Price Reporting Agencies and the IOSCO Principles for the Regulation and Supervision of Commodity Derivatives Markets.
The IOSCO Board discussed audit quality and important initiatives to build confidence in global securities markets and to:
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reduce the reliance of asset managers and market intermediaries on credit ratings
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promote effective credible deterrence as a key element in improving investor protection and confidence in markets.
Members discussed the results of the IOSCO Research Department ́s latest market survey on market trends, which emphasizes the growing leverage insecurities markets, the impact of cross-border capital flows on emerging markets, financial risk disclosure, collateral management, and potential counterparty risk in central clearing houses.
Full press release
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