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Stand:updated on 01.04.2016 International Organization of Securities Commissions - IOSCO

BaFin is a member of the International Organization of Securities Commissions (IOSCO), which was formed in 1983. The organisation has around 200 members worldwide.

IOSCO plays a key role in setting international standards for securities supervision. It also promotes cooperation between securities regulators and supervisors. Its member authorities exchange information and develop standards designed to improve the supervision of securities trading and market participants at both a national and cross-border level. The aim is to ensure fair and efficient securities trading that takes investor interests into account.

IOSCO’s recommendations often shape legislation and market structures at both national and EU level. An active participation in all of IOSCO’s key committees and the representation of German interests is therefore particularly important. BaFin is represented at all decision-making levels and in the IOSCO working committees for the developed capital markets, meaning that it has an input into IOSCO’s reports and resolutions.

The reports, standards and resolutions issued by IOSCO are aimed at all IOSCO members in a uniform manner. They are passed by the Presidents’ Committee, IOSCO’s key decision-making body. The reports and recommendations of the Technical Committee and the Emerging Markets Committee are aimed solely at the members represented in these committees. These committees are responsible for the technical work that is required to develop standards and recommendations.

The Technical Committee is made up of 18 agencies that supervise some of the world's larger, more developed financial markets; the Emerging Markets Committee comprises agencies from less developed financial markets. The work performed by the Technical Committee and the Emerging Markets Committee is divided into the following six major functional subject areas:

  • accounting, auditing and corporate disclosures;
  • regulation of secondary markets;
  • regulation of market intermediaries;
  • cross-border securities law enforcement and exchange of information;
  • regulation of mutual funds and other collective investment schemes; and
  • credit rating agencies.

Both committees have permanent working groups comprising experts from the member authorities that are working on these issues.

Project groups are also set up to address individual issues.

Additional information

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