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The IOSCO Technical Committee discussed current market conditions and further prioritise IOSCO’s work in response to the subprime crisis. A report on the findings and recommendations is expected in the next months.
The Committee will focus on greater international co-ordination for the oversight of credit rating agencies, and on market participants responsible for retail clients.
The TC members expect investment managers to carry out appropriate due diligence procedures in order to properly understand the risks associated with any products in which they are intending to invest their clients’ funds, and the TC has an active workstream on this topic.