Thursday, January 30,
2020 / 01:55 PM / IOSCO / Header Image Credit: IOSCO
The Board of the International Organization of Securities Commissions (IOSCO) today published its 2020 annual work program, to further its core objectives of protecting investors, maintaining fair, efficient and transparent markets and addressing systemic risks.
The work program calls for IOSCO to continue its efforts on five specific priorities identified by the Board for 2019 while undertaking work on a new priority concerning rising levels of corporate debt and leveraged loans and the potential resulting risks in capital markets. It also refers to other important workstreams that are currently being carried out by IOSCO's eight Policy Committees.
In 2019, the Board identified the following specific priorities, all of which will continue to be priorities in 2020:
2. Artificial Intelligence and Machine Learning
3. Market Fragmentation
4. Passive Investing and Index Providers
5. Retail Distribution and Digitalization
The 2020 work program provides an update on these five existing priorities as well as an overview of the planned work on the new corporate debt and leveraged loan priority. Other important workstreams include those related to asset management, particularly in the areas of liquidity risk management and leverage, and IOSCO will continue its analysis of the ETF marketplace.
IOSCO will maintain its focus on systemic risk in capital markets across its different work streams and continue to collaborate and engage effectively on this topic with other standard setting bodies and the Financial Stability Board.
IOSCO will also further its efforts in other areas, including through the Sustainable Finance Network and the Fintech Network, and will pursue matters of special importance to growth and emerging markets. Implementation monitoring and capacity building will continue to be core IOSCO activities for its members.
The work program will help ensure that the work of IOSCOÂ´s eight policy committees, the Committee on Emerging Risk and the Assessment Committee continues to be closely aligned with Board-approved priorities, thereby facilitating greater cooperation among IOSCO members.
Ashley Alder, Chair of the IOSCO Board, said: "By publishing an annual work program, IOSCO brings greater transparency and efficiency to its work, benefiting both members and stakeholders. This yearÂ´s new priority on the rising levels of corporate debt and leveraged loans is a good example of how IOSCO works effectively to identify and address emerging risks that can impact global capital markets."