Jean-Paul Servais, chairman of the Financial Services and Markets Authority (FSMA), has been re-elected as vice-chairman of the International Organization of Securities Commissions (IOSCO) and to chairman of the Europees Regionaal Comité.
International Organization of Securities Commissions (IOSCO)
Jean-Paul Servais is during the annual general meeting of the IOSCO re-elected as vice-chairman of the organization for a term of two-year. IOSCO was founded in 1983 and has 126 supervisors as a member. The organization aims to promote cooperation between market regulators, as well as to develop international standards and best practices. An important instrument for this is the multilateral cooperation memorandum of IOSCO (MMoU – Multilateral Memorandum of Understanding). This memorandum enables the supervisors to exchange information quickly between themselves. This information can be used, among other things, in investigations into market abuse practices, which increasingly have an international dimension and can thus be dealt with more efficiently. 118 supervisors, including the FSMA, signed the memorandum.
Europees Regionaal Comité
In addition, Jean-Paul Servais is also re-elected as chairman of the European Regional Committee (the European country group within IOSCO) for a new two-year mandate, which started in May 2018. He has been in charge of the latter since October 2014. The Europees Regionaal Comité discusses the IOSCO initiatives on strengthening global standards for financial markets, with particular attention to the issues affecting the European region.
Soucre: https://www.fsma.be
