The International Organization of Securities Commissions (IOSCO) is the international body that brings together the world’s securities regulators. IOSCO develops, implements and promotes adherence to internationally recognized standards for securities regulation. It works intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda.
On 16 June the International Organization of Securities Commissions organized in Bangkok, Thailand an international conference. The conference was attended by over 600 participants, representing Security and Exchange Commissions and representatives of capital market companies and institutions world wide.
The Conference was opened by Mr. Arkhom Termpittayapaisith, Minister of Finance of Thailand, Mr. Thawatchai Pittayasophon, acting Secretary-General of SEC Thailand and Mr. Jean Paul Servais, IOSCO Board Chair.
UIHJ was represented by its first vice-president, Jos Uitdehaag.
A major focus in the conference was the influence of new technologies and innovations in capital markets. This brings with it challenges and opportunities and the need for regulatory implications protecting investors and ensuring fair and efficient markets. The second panel, in which UIHJ participated, focused on “rebuilding the future of finance; digital assets and proof of responsibility”. The further panelists were Ian Taylor, KPMG head of Crypto and Digital Assets and Board Advisor of CryptoUK; Julia Leung Chief Executive Officer of at he Securities and Futures Commission of Hing Kong; Peter Brewin, partner of PWC and Commissioner Kristin Johnson of the U.S. Commodity Futures Trading Commission.
This panel discussion went through the crisis of digital assets and which the value decreased from $3 trillion to $1 trillion. It was discussed how this decrease and the bankruptcies and loss of investors’ confidence affected the development of digital assets; how the market, including enforcement agents are adapting to the developments; the need for regulations in the sector and the role of the private sector. On this occasion, UIHJ was able to present to a wide audience (IOSCO through its 239 members from 130 countries regulates 95% of the world’s securities market) the global code on e-enforcement.
