IOSCO Restates Commitment to Investor Protection
The International Organisation of Securities Commissions, IOSCO has restated its commitment to maintain investor confidence in all its jurisdictions by ensuring that investors are protected in its regulations.
This was stated by the Chairman IOSCO board, Mr. Ashley Alder in his remarks at the official Opening ceremony of the 43rd Annual Conference in Budapest, Hungary, Thursday, May 10, 2018.
Alder said the job of securities regulators is to work with the industry to recognise the present realities and address the problem of risk in order to ensure that the investor is well protected.
He said “The role of the securities regulator is becoming increasingly vital, particularly post the 2008 global financial crisis
“Our mission is that regardless of technological change, regardless of policy shift, our job is to maintain confidence so the financial system continues to deliver value to the public”.
On Financial Technology, FinTech, Alder said the opportunities loom large, hence the organisation needs to explore regulatory response on risk around FinTech.
In his remarks, Secretary General of IOSCO, Paul Andrews disclosed that the organisation is committed to investor protection, fair and efficient markets as well as systemic risk reduction adding that IOSCO must be at the forefront of issues that affect capital market operators.
He said ” Right now, we are focused on issues around Initial Coin Offerings (ICOs), market volatility, cyber threats among others. We need to forge greater co-operation among Regulators and that includes assisting Emerging Markets to be able to provide proper regulations”.
Only recently, Ag. DG of SEC Nigeria, Ms. Mary Uduk reaffirmed the commitment of the current management of the SEC to protect retail investors and ensure that they enjoy the benefits of investing in the capital market.
She said “Members of the new management team have worked in the Commission for many years with experiences in different department of the Commission and aspects of the capital market.
“We have always been part of the Commission’s efforts at improving investors’ confidence and implementing the Capital Market Master Plan.
She affirmed that the Master Plan will continue to be the SEC’s working document and the Commission shall continue to implement initiatives that will promote investors’ confidence such as E-Dividend registration, Direct Cash Settlement, Dematerialization, Complaint Management Framework, Financial Literacy and Investors’ Protection Fund, among others.