CMA participates in IOSCO’s board meeting in Hong Kong

The CMA (Capital Market Authority) participated in the International Organization of Securities Commissions (IOSCO) Board’s meeting held in Hong Kong on Oct. 20-21.
The CMA’s delegation was headed by Mohammed bin Abdullah Al-Jadaan, chairman of the board of the CMA.
During the meeting, several issues related to the financial markets regulation and common challenges were discussed by the member states.
The board discussed the global financial markets developments as well as their various emerging risks.
The board also viewed a report on corporate governance of emerging countries along with the latest developments of the regional training hub, to be launched in Malaysia under the sponsorship of IOSCO.
Furthermore, the meeting highlighted raising the performance level of regulators’ member staff by developing the IOSCO’s online research and training portal.
The members discussed the importance of international cooperation in information exchange among the regulators of financial markets given its major role in facilitating the enforcement of laws and regulations and promoting investor protection.
The members also discussed IOSCO’s current projects as to the regulation of financial markets in cooperation with the Financial Stability Board (FSB), which particularly form a high concern to the G20.
Among the topics that figured was the reorganization of the IOSCO board’s tasks and prioritizing its focus.
IOSCO has 214 members of the authorities and regulators of financial markets.
Aside from its role in the board of IOSCO, the CMA is actively involved in many committees of the board, such as the Growth and Emerging Markets Committee (GEMC) and its steering committee, in addition to being a member in both the Committee for Emerging Risks (CER) and the Africa Middle East Regional Committee (AMERC) as well as six different committees of the IOSCO board’s eight policy committees.
The CMA hopes to bring in benefits for the Saudi capital market in line with Vision 2030.

Source: Arab News