The Financial Services and Markets Authority (FSMA) has been elected vice chair of the Board of the International Organization of Securities Commissions (IOSCO). IOSCO is a network of over 120 national regulators, responsible for supervising the financial markets and for product and conduct supervision.
IOSCO held its annual conference this week in Lima, Peru. The organization was founded in 1983 and is a network of over 120 national regulators, among which the FSMA, responsible for supervising the financial markets and for product and conduct supervision. IOSCO’s objective is to promote fair and sound market practices worldwide, and thus to contribute to investor protection and the integrity of the financial markets. To this end, IOSCO works to strengthen ongoing cooperation among securities regulators, in particular as regards the enforcement of laws and regulations and the exchange of information about market abuse. It also develops standards and best practices that in turn inform European and national rules and practices.
During the meeting in Lima, the chairman of the FSMA, Mr Jean-Paul Servais, was elected vice chair of the IOSCO Board for a period of two years. This election is a sign of appreciation for the work already done at national and international levels. It also attests to the trust that fellow regulators place in the actions of the FSMA.
Within IOSCO, the FSMA also chairs the European Regional Committee, made up of 51 members. IOSCO’s four regional committees discuss topics that are relevant to the region concerned, and follow up on the work of the organization’s various thematic committees and working groups. The FSMA is also chair of IOSCO’s audit committee.
IOSCO has also published a press release on the matter.