Self-regulatory organizations, exchanges, and market infrastructure firms are seeking a louder voice with global securities regulators.
A committee representing the SROs, trading venues, investor protection funds, and other market players, reports that it is seeking to strengthen its role as a consultative committee to the board of the International Organization of Securities Commissions (IOSCO).
The group, known as the IOSCO Affiliate Members Consultative Committee (AMCC), met in Madrid and agreed to work with IOSCO on issues affecting securities markets and the regulators that make up the IOSCO membership. Specifically, it approved three new work streams and discussed with the IOSCO secretariat how to take this work forward. The mandates include investment management data, emerging risks, and cyber threats.
Participants at the meeting also discussed other issues such as crowdfunding and technological issues on market infrastructure.
“Our members have a lot to contribute to these work streams as they have a practitioner perspective that complements the work of the securities regulators who constitute the ordinary membership of IOSCO,” said José Carlos Doherty, chairman of the AMCC and CEO of the Brazilian Financial and Capital Market Association (ANBIMA).
IOSCO secretary general, David Wright, said, “I very much welcome this new forward-looking agenda and the priority global policy areas that the AMCC have agreed to work intensively on. It is very important that IOSCO draws together and benefits from the expertise of all its membership.”