Speech of the Chairman of the FSMA and IOSCO at a conference organized by Better Finance

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Jean-Paul Servais, Voorzitter van de FSMA en IOSCO aanwezig op International Conference on the EU Retail Investment Strategy - Better Finance

On 20 June 2023 Jean-Paul Servais, the chairman of IOSCO and of the FSMA, gave a speech at the conference organized by Better Finance, the European Federation of Investors and Financial Services Users, about the recent proposals of the European Commission as part of its retail investment strategy (RIS). In his capacity of chairman of IOSCO, Jean-Paul Servais pointed out that:

  • Retail investor protection represents a core objective for IOSCO and is key to maintaining retail investors’ trust in capital markets;
  • The increased digitalization of financial services offers fraudsters and scammers an opportunity to also use these digital channels. Regulators worldwide should master those new and digital tools in order to effectively combat ever-changing forms of fraud;
  • The significant risks associated with crypto-assets should be addressed at a global level, according to the principle: ‘same activity, same risk, same rules’. The public consultation organised by IOSCO on this subject is available here.
  • Supporting financial education initiatives should enable retail investors to better understand the opportunities but also the risks associated with investing.