The International Organization of Securities Commissions ("IOSCO") outlined its 2026 Work Program, setting out strategic priorities to strengthen financial resilience and address risks associated with technological transformation in global capital markets.
In its annual agenda, IOSCO stated it will focus on strengthening financial resilience by finalizing reviews of valuation principles for collective investment schemes and hedge funds. IOSCO noted it will address fragmentation in over-the-counter derivatives reporting and explore the "interconnectedness between private equity and the audit sector." Additionally, IOSCO said it will collaborate with the Committee on Payments and Market Infrastructures to enhance the "operational resilience of Financial Market Infrastructures," specifically regarding third-party risks and cyber resilience.
IOSCO found that technological transformation warrants a specific supervisory focus. IOSCO said it intends to advance its crypto-asset roadmap by finalizing assessment methodologies and developing a supervisory toolkit for Artificial Intelligence that covers disclosures and governance. IOSCO also highlighted the risks and opportunities presented by novel retail products, such as crypto-asset funds and private credit vehicles, and plans to launch a "Techsprint" to develop tools for investor education.
IOSCO also emphasized the importance of regulatory cooperation. IOSCO said it would: (i) support signatories to its Multilateral Memorandum of Understanding; (ii) conduct "thematic reviews" on enforcement and market intermediaries to ensure consistent application of securities regulation; and (iii) assist emerging jurisdictions through capacity building, including the development of a new e-learning platform under its NEXTGEN program.
