(MENAFN Press) The Affiliate Member Consultative Committee (AMCC) met in Tokyo this week to further its work on emerging risks, investment funds data, cyber threats and other initiatives in support of the International Organization of Securities Commissions (IOSCO).
The AMCC is comprised of IOSCO affiliate members, which include self-regulatory organizations (SROs), securities exchanges, financial market infrastructures, investor protection funds, and other securities markets regulatory organizations. Last year, it adopted a new strategic direction to strengthen its role as a consultative committee to the securities regulators who account for most of IOSCOs membership. It also changed its name from the SRO Consultative Committee to the AMCC to reflect the diversity of its growing membership.
IOSCO Secretary General David Wright, IOSCO Research Head Werner Bijkerk and representatives from IOSCOs different policy committees discussed their recent work with AMCC members at the meeting on 7 - 8 April in Tokyo. The participants also discussed IOSCOs research projects and its response to the challenges facing global capital markets, underscoring the growing cooperation between IOSCO and its affiliate members.
As market participants, AMCC members offer securities regulators a different perspective on major market developments.
AMCC Chairman Jose Carlos Doherty welcomed the closer collaboration and his committee's greater consultative capacity. He said: "The committee's recent re-organization allows for a continuous exchange of information among members and new work activities through its recently launched newsletter and task forces, strengthening its contribution to IOSCO.
Last year, the AMCC approved three task forces whose activities are closely aligned with IOSCOs research and policy work. They include:
Investment Funds Dat
At this week meeting, the AMCCs Ahead of the Curve Panel analyzed the monitoring and supervisory tools used by securities exchanges. It also discussed new developments regarding intermediaries' distribution and trading activities, crowd-funding and funding of small and medium-sized enterprises.
Mr. Wright highlighted the AMCCs growing role as a consultative committee to IOSCO: "As global financial markets shift to market based financing, we expect the AMCC to become more deeply integrated within IOSCOs work and activities, and to increase its contributions to IOSCOs policy priorities and the discussion of IOSCOs 2020 strategic plan.
He also encouraged further work between IOSCO and the AMCC in training and capacity building. These are major IOSCO initiatives aimed at emerging market countries as they develop their securities markets as a vital source of funding for economic growth.
After its meeting, the AMCC hosted its annual Training Session, where it introduced a certificate for participants who completed the three-day program. The seminar addressed current regulatory issues such as cyber-security, crowd funding, social media, high frequency trading, complex products and other challenges to investor protection. It was attended by 89 regulators and self-regulators, representing 25 jurisdictions. Both the AMCC meeting and training program were hosted by the Japan Securities Dealers Association, and the Japan Exchange Group and its regulatory arm, the JPX Regulation