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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) was re-elected to the International Organisation of Securities Commissions (IOSCO) Board for the fifth consecutive term of 2020-2022, a press release showed.
The IOSCO is the leading policy forum for securities regulators and is recognised as the global standard setter for securities regulation.
The IOSCO’s membership regulates more than 95 per cent of the world’s securities markets in more than 115 jurisdictions. The SECP has been an IOSCO member since 1998 and has been on its board since 2012.
SECP Chairman Aamir Khan said, the “IOSCO has a critical role in leading the development of global framework for securities markets and Pakistan looks forward to supporting this mandate as part of IOSCO board to improve regulatory standards.”
The SECP has been elected to the board as representative for the Asia Pacific Regional Committee.
The SECP is also a full signatory to the IOSCO’s multilateral memorandum of understanding which is considered as the international benchmark for cross-border cooperation.
Following elections, an inaugural meeting was held on June 09 wherein the new board elected its leadership for the 2020-2022 term.
The board leadership consists of one chair and two vice chairs.
Due to the Covid-19 pandemic, board members, including SECP participated virtually and unanimously re-elected Securities and Futures Commission Hong Kong CEO Ashley Alder as its Chair and Chairman of Financial Services and Markets Authority Belgium Jean-Paul Servais as Vice Chair.