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Is Medcraft leaving ASIC or holding Chair concurrently with Chair of IOSCO?

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12-97MR ASIC chief elected chair of IOSCO board

Thursday 17 May 2012


ASIC chairman Greg Medcraft was today elected chairman of the board of the International Organization of Securities Commissions (IOSCO), following a vote of board members at IOSCO’s annual conference in Beijing.

Mr Medcraft’s IOSCO term will begin when the current chairman, Masamichi Kono, steps down in March 2013 and will continue to September 2014. The IOSCO role will be held concurrently with Mr Medcraft’s ASIC responsibilities.

‘I am honoured to be elected chairman of IOSCO. This is an organisation that does important work, and as we face ongoing economic uncertainty in the Eurozone, that work is even more crucial,’ Mr Medcraft said.

‘My vision is for IOSCO to be seen by regulators and policy makers globally as effective, pro-active and forward looking. I want to make IOSCO the key global reference body for securities regulation, in much the way the Basel Committee is seen for banking regulation and supervision.

‘IOSCO must deliver on this mission given the challenges global securities markets face. In particular, the pace of financial innovation and the ongoing risk that it will outpace regulation; the continuing globalisation of financial markets and products; and the migration of savings from the banking regulatory perimeter to the securities perimeter and with it the increased significance of securities regulation.’

As IOSCO Chairman Mr Medcraft aims to focus on promoting the IOSCO brand, improving its role in standard setting and supporting regulatory capacity building among members.

IOSCO comprises securities regulators from over 110 countries. The board, elected for the first time in Beijing, is made up of regulators from 32 countries comprising all major economies and leading emerging markets (see below).

IOSCO board members

1. Comisión Nacional de Valores, Argentina
2. Australian Securities and Investments Commission, Australia
3. Financial Services and Markets Authority, Belgium
4. Comissão de Valores Mobiliários, Brazil
5. Superintendencia de Valores y Seguros (SVS), Chile
6. China Securities Regulatory Commission, People's Republic of China
7. Autorité des marchés financiers, France
8. Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany
9. Securities and Futures Commission, Hong Kong
10. Securities and Exchange Board of India (SEBI), India
11. Commissione Nazionale per le Società e la Borsa, Italy
12. Financial Services Agency, Japan
13. Financial Services Commission/Financial Supervisory Service (FSC/FSS), Korea
14. Securities Commission, Malaysia
15. Comisión Nacional Bancaria y de Valores, Mexico
16. Conseil déontologique des valeurs mobilières (CDVM), Morocco
17. The Netherlands Authority for the Financial Markets, Netherlands
18. Securities and Exchange Commission, Nigeria
19. Ontario Securities Commission, Ontario
20. Securities and Exchange Commission, Pakistan
21. Comissão do Mercado de Valores Mobiliários, Portugal
22. Autorité des marchés financiers, Quebec
23. Romanian National Securities Commission, Romania
24. Monetary Authority of Singapore, Singapore
25. Financial Services Board, South Africa
26. Comisión Nacional del Mercado de Valores, Spain
27. Swiss Financial Market Supervisory Authority, Switzerland
28. Trinidad and Tobago Securities and Exchange Commission, Trinidad and Tobago
29. Capital Markets Board, Turkey
30. Financial Services Authority, United Kingdom
31. Commodity Futures Trading Commission, United States of America
32. Securities and Exchange Commission, United States of America

 

Source: https://www.asic.gov.au/asic/asic.nsf/byheadline/12-97MR+ASIC+chief+elected+chair+of+IOSCO+board?openDocument

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  • doyla66
    doyla66 Friday, 02 November 2012

    ASIC chairman Greg Medcraft elected chairman of the board of IOSCO, following a vote of board members @annual conference in Beijing.

    Unequivocal: "The IOSCO role will be held 'concurrently' with Mr Medcraft’s ASIC responsibilities"--Mar 2013 to Sept 2014.

  • doyla66
    doyla66 Saturday, 03 November 2012

    OMG! Greg Medcraft, regulatory wonder horse!
    He can't even do the job here to the satisfaction of his stakeholders (including millions of borrowers and investors).
    How is he going to do his other job too? Or is that one for paid overseas holidays (conferences and talkfests)?
    IOSCO is Greg's greater love - anyone can see what's going to happen next...
    Greg, pet, give up.
    Hand over the ASIC reins to Denise Brailey in the national interest.

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