IOSCO Consults on Cross-Border Regulation

The International Organization of Securities Commissions ("IOSCO") published a consultation report titled, IOSCO Task Force on Cross-Border Regulation, that identifies and describes cross-border regulatory tools and challenges.

The consultation report describes cross-border regulatory tools that have been used, or are under consideration, by IOSCO members. The report addresses the challenges IOSCO members face in protecting investors, maintaining market quality, and reducing systemic risk. These tools provide the basis for developing a cross-border regulatory toolkit and common terminology describing potential options for IOSCO members to consult when considering cross-border regulations. The tools can be broadly classified into three main types: National Treatment, Recognition, and Passporting.

The report also includes a detailed discussion of the key challenges and experiences faced by regulators in implementing cross-border securities regulations, including how their national rules will apply to global financial markets and interact with foreign rules and international standards.

Comments on the report should be submitted by February 23, 2015.

See: IOSCO Task Force on Cross-Border Regulation Consultation Report; IOSCO Press Release.