IOSCO Board Meets in Luxembourg to Advance Global Securities Regulation

The Board of the International Organization of Securities Commissions (IOSCO) which is the policy making body of the Orgainzation met in Luxembourg during the 38th Annual Conference/Meeting of the body, and took major decisons that will shape the future of its members. The Africa Middle East Regional Committee of IOSCO is represented on its board by the Director General of the Securities and Exchange Commission (SEC) Nigeria, Ms. Arunma Oteh and the representatives of Morocco and South Africa.

Critical among issues at the meeting was the increase in the number of AMERC representatives on the IOSCO Board. The AMERC now has two additional members on the Board, bringing to 5 the total number of the Committees’ representatives. This is a milestone achievement and a direct result of the unwavering efforts of the AMERC Chairperson, Ms. Arunma Oteh, Director General, SEC Nigeria, and the advocacy of the Regional Committee on the need for more inclusiveness and balanced representation. In recognition of these efforts, the IOSCO Secretary General commended the AMERC Chair for her strong and consistent advocacy as well as the promotion of consultation and cooperation within the region.

During deliberations, board members undertook an assessment of progress made so far with respect to the G20 requests on OTC derivatives, financial benchmarks, credit rating agencies and shadow banking.

 

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