Wednesday, November 29, 2006
Jane Diplock, Chairman of New Zealand's SEC and of the Executive Committee of the International Council of Securities Associations, gave a speech last month at the IOSCO's general meeting in Tokyo. Diplock's speech (available here)addressed the IOSCO's priorities of providing consistent worldwide securities regulation and providing for information exchange among regulators.
Diplock reiterated the goals of the IOSCO: protection of investors, market fairness and transparency, and reduction of systemic risk. To achieve these goals, the IOSCO is providing assistance to regulators in emerging markets. The IOSCO has also issued a Multilateral Memorandum on Consultation, Cooperation and Exchange of Information to allow signatory regulators to provide timely assistance to each other in addressing cross-border securities fraud issues. So far, regulators in 34 countries have signed on to the MOU.