I am honoured that I have been re-appointed Chair of the International Council of Securities Associations (ICSA) for a one-year term at its Annual General Meeting in Stockholm, Sweden.
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.
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 will continue to build relationships to execute its mandate in responding to regulatory initiatives from multi-national bodies, such as IOSCO, the FSB and the OECD.
ICSA has been designated as the Secretariat for the Cross Border Regulation Forum (CBRF). The CBRF has played a leading role in drafting high-level principles related to cross-border regulation.
Globalized markets require global cooperation—among regulators and between regulators and stakeholders. That is why I am especially pleased to work with international bodies as the Chair of ICSA.