IOSCO Securities Standards

IOSCO Securities Standards

The International Organization of Securities Commissions (IOSCO) is the international body that brings together securities regulators and sets global standards for securities regulation.

IOSCO Objectives

1. Protect investors
2. Ensure fair, efficient, transparent markets
3. Reduce systemic risk

Core Principles

38 Objectives and Principles

Regulator Principles (1-8)

• Clear responsibilities
• Operational independence
• Adequate powers and resources
• Clear regulatory processes
• Staff conduct standards
• Regulatory perimeter monitoring
• Systemic risk management
• Stakeholder engagement

Self-Regulation (9)

• Appropriate oversight of SROs

Enforcement (10-12)

• Inspection, investigation, surveillance
• Enforcement powers
• Market misconduct deterrence

Cooperation (13-15)

• Information sharing
• International cooperation
• MoU mechanisms

Issuers (16-18)

• Full disclosure
• Accounting standards
• Auditor oversight

Auditors (19-21)

• Auditor oversight
• Independence
• Quality standards

Credit Rating Agencies (22)

• CRA oversight

Investment Managers (24-26)

• Authorisation and supervision
• Conduct standards
• Asset segregation

Market Intermediaries (28-32)

• Authorisation requirements
• Capital and prudential standards
• Conduct of business
• Client asset protection
• Risk management

Secondary Markets (33-37)

• Trading transparency
• Market manipulation prevention
• Large exposures management
• Default procedures
• Surveillance

Key Standards

Benchmark Principles

• IOSCO Principles for Financial Benchmarks
• Governance, quality, accountability
• LIBOR transition

ETF Principles

• Good practices for ETFs
• Transparency, liquidity, disclosure

Cyber Resilience

• Cyber resilience guidance
• Incident response
• Third-party risk