Ian Russell, president and CEO of the Investment Industry Association of Canada (IIAC), has been re-appointed chair of the International Council of Securities Associations (ICSA) for a one-year term.
The appointment was announced at the ICSA AGM in Stockholm, Sweden today.
“I view this as a strong opportunity to raise awareness of not only ICSA’s role in promoting efficient and well-functioning securities markets and the efficient flow of cross-border capital, but to elevate the profile of the Canadian securities industry and our capital markets as well,” said Russell.
At the ICSA AGM, members discussed issues and initiatives on topics including market liquidity, culture and conduct, cross border regulation, and cybersecurity. These issues are high on the agenda of the International Organization of Securities Commissions (IOSCO), the global organization of securities regulators, and are important to the securities industry and the global economy.
Recent ICSA achievements include:
- A second submission to IOSCO’s Task Force on Cross Border Regulation
- Strong engagement with IOSCO at their Annual Conferences, through meetings with Committee Chairs
- The establishment of a Market Liquidity Working Group, which submitted a paper to IOSCO based on the work of nine member associations
- Publication of the results of a member survey on cybersecurity, shared with IOSCO’s Associate Member Consultative Committee
- Work on a survey of members on culture and conduct initiatives
ICSA has been designated as the Secretariat for the Cross Border Regulation Forum (CBRF). The CBRF was brought together in 2014 by an international group of financial services trade associations, investment banks, brokerage houses, market infrastructure operators and consumers of financial services to help improve and encourage the dialogue on international regulatory standards. The CBRF has played a leading role in drafting high-level principles related to cross-border regulation.
The Member organizations of ICSA are:
- The Australian Financial Markets Association (AFMA)
- The Association for Financial Markets in Europe (AFME)
- Association française des marchés financiers (Amafi)
- Asociación Mexicana de Intermediarios Bursátiles, A.C. (AMIB)
- Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais (ANBIMA)
- The Association of National Exchanges Members of India (ANMI)
- The Association of Thai Securities Companies (ASCO)
- Associazione Italiana Intermediari Mobiliari (ASSOSIM)
- Bundesverband der Wertpapierfirmen e.V (BWF)
- Brokers Forum
- The Chinese Taiwan Securities Association (CTSA)
- The Danish Securities Dealers Association (DBMF)
- The Japan Securities Dealers Association (JSDA)
- The International Capital Market Association (ICMA)
- The Investment Industry Association of Canada (IIAC)
- The Korea Financial Investment Association (KOFIA)
- The Securities Industry and Financial Markets Association (SIFMA)
- The Swedish Securities Dealers Association (SSDA)
- The Turkish Capital Markets Association (TCMA)