IOSCO expands its global membership to include Iceland, the Maldives, Saudi Arabia and Syria

IOSCO expands its global membership to include Iceland, the Maldives, Saudi Arabia and Syria

 

The International Organization of Securities Commissions (IOSCO) has today welcomed the securities markets regulators from Iceland, the Republic of the Maldives, the Kingdom of Saudi Arabia and Syria as its newest members.

The four newest members’ applications for membership were accepted at today’s meeting of IOSCO’s Presidents’ Committee, which is made up of the chairmen and chief executives of it member securities regulators.  In fulfilling the criteria for membership the applicants demonstrated their commitment to IOSCO’s Objectives and Principles of Securities Regulation and that their regulatory regimes allowed them to become signatories to Appendix A of the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information.

Jane Diplock, Chairman of the Executive Committee, said:

“I am delighted to welcome these four jurisdictions as IOSCO’s newest members.  It is particularly pleasing for me to see jurisdictions from such different legal and regulatory traditions demonstrating their commitment to IOSCO’s Principles.”

Jean St. Gelais, Chairman of the Presidents’ Committee and CEO of the Quebec AMF, said:

I am pleased that this 35th Annual Conference in Montreal presents the opportunity of welcoming further new members to our organization.  Since its formation in 1983, IOSCO has grown steadily and today, with the approval of these applications, can count on a membership drawn from 114 jurisdictions.  This demonstrates the continuing relevance of the body to the development of well regulated global securities markets.”

The new member agencies are:

  • Financial Supervisory Authority, Iceland
  • Capital Market Development Authority, Republic of the Maldives
  • Capital Market Authority, Kingdom of Saudi Arabia
  • Syrian Commission for Financial Markets and Securities

Additionally the following bodies were admitted as Affiliate members of IOSCO:

·         Athens’ Stock Exchange Members’ Guarantee Fund, Greece

·         China Securities Investor Protection Fund Corporation Limited, China

·         MCX Stock Exchange Limited (MCX-SX), India

·         World Federation of Exchanges (WFE)