CMA participates in 48th annual meeting of IOSCO

Business Thursday 15/June/2023 15:21 PM
By: Times News Service
CMA participates in 48th annual meeting of IOSCO

Muscat: The Sultanate of Oman represented by the Capital Market Authority (CMA) participated in the 48th annual meeting of the International Organisation of Securities Commission (IOSCO) held in Bangkok, Thailand by an official delegation chaired by Sheikh Abdullah bin Salim Al Salmi, Executive President and senior officials of the CMA.

The meeting discussed the key issues in global financial markets in the regulatory and supervisory arenas related to the securities industry. The CMA also participates in the meetings of the subcommittees on the sidelines of the annual meeting of the IOSCO such as the Africa and Middle East Regional Committee (AMERC) and the meeting of the Growth and Emerging Markets Committee.

AFMERC’s meeting discussed a number of issues related to the developments in the securities markets in the region including financial sustainability, which is a key issue in the region to create a sustainable investment environment. The meeting also discussed virtual assets and Fintech and their challenges in regulation.

The meeting discussed the multilateral memorandum of understanding between the members of IOSCO. The Growth and Emerging Markets Committee’s meeting discussed several issues of concern for the markets such as capacity building in the regulatory authorities as sell well as investor protection.

CMA is keen to participate in such meetings to enhance the Sultanate’s presence in international organisations which contributes to the exchange of expertise and information among the members to develop the markets, protect investors and upgrade the level of regulations for the highest standards of integrity, fairness and transparency beside emphasizing on the efforts exerted by the CMA to enhance its role within the IOSCO.

IOSCO was established in 1983 to set the standards for the securities commissions and comprises a number of subcommittees for cooperation and implementation of international standards for regulation, supervision and enforcement to protect investors and for fair, transparent and efficient markets, and to address systemic risks as well as investor protection by increasing confidence in the soundness and integrity of the financial markets through the exchange of information and cooperation in enforcement against unsound practices to develop the infrastructure of the markets and implementation of the laws and regulations.