IOSCO publishes work program for 2021-2022

IOSCO publishes work program for 2021-2022

The International Organization of Securities Commissions (IOSCO) has published its work program for 2021-2022, which aims to further its core objectives of protecting investors, maintaining fair, efficient and transparent markets, and addressing systemic risks. The work program includes work that focuses on two new priorities: financial stability and systemic risks of non-bank financial intermediation activities (NBFI); and risks exacerbated by the coronavirus (COVID-19) pandemic such as misconduct risks, fraud and operational resilience.

In light of COVID-19’s continuing impact on global economic activity and the macro-financial outlook, the 2021-2022 work program calls on IOSCO through its two new priorities to maintain a core focus on critical work underway since March 2020 to respond to the ongoing impacts of the pandemic on capital markets.

As well as the two new priority areas, the work program also includes a re-doubling of IOSCO’s efforts in contributing to ‘the urgent goal of improving the completeness, consistency, and comparability of sustainability reporting under the stewardship of its Sustainable Finance Task Force’, as well as continuing work on asset managers and greenwashing, on environmental, social and governance (ESG) ratings, and on ESG data providers.

IOSCO also says it will continue its efforts on six specific priorities identified by its Board for 2020, all of which continue to be priorities for 2021 and 2022:

• corporate debt and leveraged finance

• crypto assets

• market fragmentation in securities and derivatives markets

• artificial intelligence and machine learning

• passive investing and index providers

• retail distribution and digitalisation

The work program, unlike previous editions, covers a two-year horizon and will be reviewed and refreshed as appropriate at the end of 2021 to ensure its ongoing relevance.

Source: IOSCO publishes work program for 2021-2022

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