The Chairman of the Financial Services and Markets Authority (FSMA), Jean-Paul Servais, has been elected chairman of the IOSCO European Regional Committee.
IOSCO, the international organization of securities commissions, is holding its annual general meeting in Rio de Janeiro this week. The organization was founded in 1983 and currently has a membership of over 120 national regulators, among whom the FSMA. IOSCO’s objective is to promote fair and sound market practices worldwide, and thus contribute to investor protection and enhance the financial markets’ integrity. To this end, IOSCO works to intensify collaboration among securities regulators and to develop standards and best practices.
IOSCO has four regional committees. They discuss themes that are relevant to the region concerned, and follow up the work of the organization’s various thematic committees and working groups. The European Regional Committee has 51 members, who have elected Jean-Paul Servais as their chairman for a two-year period. The election of Jean-Paul Servais also implies his confirmation as a member of the IOSCO Board, the organization’s highest governing body. He also chairs IOSCO’s audit committee.
On the occasion of his election Jean-Paul Servais declared: “I am honoured and delighted that the members of the European Regional Committee have supported the FSMA’s candidacy, a clear sign of their appreciation for the work already carried out by the FSMA both nationally and internationally. It also shows the confidence of the FSMA’s fellow supervisors in its action”.