Jean-Paul Servais, chairman of the Financial Services and Markets Authority (FSMA), has been re-elected chair of the European Regional Committee of IOSCO, the international organization of financial market supervisors.
The European members of IOSCO re-elected Jean-Paul Servais to another two-year term as chair of the European Regional Committee, the European country group within IOSCO. He has held this position since October 2014.
IOSCO was founded in 1983 and comprises 130 supervisory authorities from 115 jurisdictions, representing 95% of the worldwide financial sector. The objective of the organization is to promote cooperation among market supervisors and to develop international standards and best practices.
IOSCO has four regional committees. The European Regional Committee brings together the 51 European members of IOSCO. The Committee discusses IOSCO initiatives that relate to the strengthening of worldwide standards for financial markets, with particular attention to matters that are of relevance to Europe.
Jean-Paul Servais: “I am delighted to be re-elected chair of the European Regional Committee, which I already preside over for many years. The fact that I can continue to hold this position after all those years is a sign of appreciation for the work carried out by the FSMA both nationally and internationally. This important position allows the FSMA to play an active role in the international debates about financial regulation that is constantly evolving and has an impact on Belgian financial regulation”.
The chairman of the FSMA is also vice chair of the IOSCO Board and chair of IOSCO’s audit committee. On behalf of IOSCO he also chairs the IFRS Monitoring Board, chairs the SPACs network and co-chairs the Monitoring Group with regard to auditing.