IOSCO announces key initiatives: IOSCO has announced that the meeting of its Board, which preceded its Annual Conference, worked on new key initiatives in the following areas, aimed at restoring trust in the securities markets: 

  • audit quality;
  • credible deterrence frameworks;
  • regulatory measures for addressing cross-border issues;
  • termination of collective investment schemes; and
  • examination of products offered by credit rating agencies in addition to credit ratings. 

(Source: IOSCO Continues Work to Strengthen Capital Markets as Driver of Economic Growth

IOSCO publishes second securities markets risk outlook: IOSCO has published its Securities Markets Risk Outlook 2014-2015, which includes a description of global trends and potential vulnerabilities and systemic risks. Some of the latter could arise from central clearing, given the pro-cyclicality of margin calls and acceptance of collateral of varying quality, and from re hypothecation and collateral transformation taking place off balance sheet. (Source: IOSCO Launches Second Securities Markets Risk Outlook