IOSCO Issues Report on Cross-Border Financial Regulation

IOSCO published a report, titled IOSCO Task Force on Cross-Border Regulation, that identifies cross border regulatory challenges and provides corresponding regulatory tools. The report incorporates a toolkit describing three broad types of cross-border regulatory options with supporting case studies, a description of the processes used to assess the comparability of foreign regulatory regimes, and other tips on how to best use the toolkit.

The report presents a series of concrete next steps aimed at supporting cross-border regulation. In this regard, IOSCO observed that cross-border regulation is moving toward more engagement through different forms of recognition in order to solve regulatory overlaps, gaps and inconsistencies. Although the increased engagement is largely bilateral at this stage, the report indicated that multilateral engagement is likely to continue to develop as markets grow.