Important International Institutions, Agencies and Their Structure

GS-2

1. IFSCA BECOMES MEMBER OF IOSCO

The International Financial Services Centres Authority (IFSCA) has become an Associate Member of the International Organization of Securities Commissions (IOSCO).

ABOUT IOSCO:

• The IOSCO is the international organization that brings together the world’s securities regulators, covering more than 95% of the world’s securities markets.
• It is also the global standard-setter for the securities sector.
• IOSCO works closely with the G20 and the Financial Stability Board (FSB) in setting up the standards for strengthening the securities markets.

HOW WOULD IOSCO MEMBERSHIP BENEFIT IFSCA?

• The membership of IOSCO would provide IFSCA with the platform to exchange information at the global and regional levels on areas of common interests.
• Further, the IOSCO platform would enable IFSCA to learn from the experiences and best practices of the regulators of other well established financial centres.
• It is a significant milestone in connecting IFSCA with the regulators of securities markets globally and would contribute immensely towards the development and regulation of the financial products, financial services and financial institutions at the Gujarat International

Finance Tec-City(GIFT city)International Financial Services Centre.

SOURCE: PIB