The International Organization of Securities Commissions’ key policy-making committee is inviting leading emerging markets, China, India and Brazil to join.

IOSCO’s technical committee — which currently includes the securities regulators of Australia, France, Germany, Hong Kong, Italy, Japan, Mexico, the Netherlands, Spain, Switzerland, Britain, the U.S. and two Canadian provinces, Ontario, Quebec — has decided to invite three of the four BRIC countries, except for Russia, to move over from the emerging-markets committee.

The new members were chosen on the basis of the size of their capital markets, the international nature of their markets and the development of their regulatory systems, IOSCO said.

The Commissão de Valores Mobiliáros of Brazil, the China Securities Regulatory Commission and the Securities and Exchange Board of India will join the Technical Committee at its next meeting in June.

“The changing landscape of the international financial system in this time of crisis demands that organizations, such as ours, reflect such changes in the composition of its membership. It is quite proper that the technical committee now should include the members from Brazil, the People’s Republic of China and India within its ranks,” said Kathleen Casey, chairman of the technical committee.

“I believe that the new members will contribute enormously to the work of the technical committee through the knowledge and experience they have gained in managing the development over the last decade of the world’s fastest growing capital markets,” she added.