Ian Russell, president and CEO of IIAC, has released a letter outlining IOSCO’s plans and projects for the next few years.
Along with discussing the commission’s G20 global reform program, Russell talks about IOSCO Security General David Wright’s “vision of capital markets, the strengths and weaknesses in securities regulation and IOSCO’s strategic agenda.”
He says, “IOSCO is leveraging its strengths…[to push for] information exchange among regulators to [propel] jurisdictions forward to meet the implementation deadlines and advance regulatory comparability.”
Russell also provides a list of the commission’s five priorities regarding the G20 reforms. These include: developing an effective resolution mechanism to help troubled institutions wind up operations neatly; and implementing appropriate capital and liquidity standards for securities firms.
Additionally, he addresses the ongoing reform of the global OTC derivatives market, and the issues surrounding shadow banking.