- protecting investors;
- ensuring that markets are fair, efficient and transparent;
- reducing systemic risk.
January 23, 2013 by Leave a Comment
IOSCO vs. SEC: one-all, ball in the centre
Yesterday the Securities and Exchange Commission (SEC) has issued a public statement concerning the publication by the International Organization of Securities Commissions (IOSCO) of the Final Report on “Suitability Requirements with respect to the Distribution of Complex Financial Products”, to underline they did not approve the final report and that they objected its publication. But IOSCO is an international body that represents 95% of national securities regulators, amongst which the SEC. IOSCO is known to the wider public for the work it has done and is still doing in response to the G20’s request to provide the Financial Stability Board (FSB) with regulatory principles or indications on how to regulate and supervise exchange-traded, OTC derivative and physical commodity markets. IOSCO’s three main objectives of securities regulation are: