Tag Archives: IOSCO

Ian Russell Re-Appointed Chair of the International Council of Securities Associations (IIAC Blog)

Ian Russell Re-Appointed Chair of the International Council of Securities Associations (IIAC Blog)

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. … Continue reading

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What’s Going on in Global Reform? (IIAC Blog)

What’s Going on in Global Reform? (IIAC Blog)

In late September I attended the IOSCO Stakeholders’ Meeting. The international organization is at an important crossroad—it continues to reinforce its role as the key global reference point for securities regulation, while grappling with new and emerging opportunities and risks, including those posed by digitization. It announced last week that Paul Andrews (a 17-year veteran of FINRA) will become the new Secretary General of the IOSCO.

IOSCO recognizes culture as a key ingredient to improved market conduct, and will continue to encourage the global industry to adopt core principles consistent with good culture. The impetus of … Continue reading

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The Cross-Border Conundrum (IIAC Blog)

The Cross-Border Conundrum (IIAC Blog)

This morning I had the pleasure to deliver the keynote address at the Derivatives World Congress organized by American Leaders. 

The financial crisis exposed significant weaknesses in the over-the-counter (OTC) derivatives market. In the immediate aftermath of the crisis, the G20 Leaders agreed to improve the integrity of trading, clearing and reporting of OTC derivative transactions. Individual regulators responded—some more quickly than others—to introduce new rules for dealers and clearinghouses. The problem is these reforms were introduced without much coordination among the regulators.

Derivatives traders are unable to execute with foreign counterparties, and clear through offshore … Continue reading

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