Today, SEC Chairman Christopher Cox, announced the results of the recent meeting of the International Organization of Securities Commissions (IOSCO) Technical Committee.

The meeting, which occurred via teleconference earlier today, was called by Chairman Cox to address the continuing market turmoil and was “focused on strengthening financial markets and investor protections.”

As a result of the meeting, three new Technical Committee Task Forces were created which will deliver their reports to the IOSCO Technical Committee meeting in February of 2009, and to the G-20 at their spring meeting. The three new task forces relate to:

Short Selling – This task force will seek to eliminate gaps in the varying regulatory schemes applied to naked short selling, such as delivery and disclosure requirements. This task force will be chaired by the Securities and Futures Commission of Hong Kong.

Unregulated Financial Markets – This task force will look to increase transparency and oversight of currently unregulated market segments such as OTC markets for derivatives and other structured financial products. The Australian Securities and Investments Commission and the Autorité de Marché Financiers of France will serve as co-chairs of this task force.

Unregulated Financial Entities – This task force will focus on unregulated entities such as hedge funds, and look to the development of regulation to mitigate the risks associated with their trading and lack of disclosure. This task force will be chaired by the Commissione Naziononale per le Società e la Borsa of Italy and the Financial Services Authority of the United Kingdom.