The International Organization of Securities Commissions (IOSCO) meaning

Asset Management & Investment Funds: EU & International Developments–June 2025 Amendment to EU Benchmarks Regulation Regulation (EU) 2025/914, which updates the EU Benchmarks Regulation (BMR), has now appeared in the EU’s Official Journal. Its clear purpose is to lighten compliance obligations for smaller EU benchmark administrators. It took effect on 8 June, while the specific amendments will apply from 1 January 2026 thereafter. By narrowing the scope, the changes ensure, in practice, that only UCITS management companies, UCITS funds and AIFs relying on critical or significant benchmarks (as defined), certain commodity benchmarks, EU climate transition benchmarks, or EU Paris-aligned benchmarks must comply with the BMR’s benchmark user requirements. IOSCO report and guidance on liquidity risk management for collective investment schemes The International Organization of Securities Commissions (IOSCO) has publicly issued its Final Report setting out Revised Recommendations on liquidity risk management for collective investment schemes, alongside Guidance for open-ended funds to support effective implementation. The recommendations and the guidance are intended to be read closely in...

This Practice Note sets out the function of supranational bodies within the anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing (CPF) legal and regulatory landscape for financial services. It considers the roles and outputs of the Financial Action Task Force (FATF) and FATF-style regional bodies (FSRBs); the Basel Committee on Banking Supervision (BCBS); the International Association of Insurance Supervisors (IAIS); the International Organisation of Securities Commissions (IOSCO); the Egmont Group of Financial Intelligence Units (FIUs), and the Wolfsberg Group. Further resource includes: for practical guidance on the UK’s AML/CTF/CPF framework for financial services, see the Anti-money laundering and counter-terrorist financing (AML/CTF)—overview for practical guidance on the EU’s AML/CTF/CPF framework for financial services, see the Financial crime and sanctions (EU Law)—overview for a timeline of relevant developments, including publications by the FATF, see: AML/CTF/CPF—timeline of UK legal and regulatory developments for financial services and AML/CTF/CPF—timeline of EU legal and regulatory developments for financial services, both of which include supranational developments Overview...

IOSCO standards The primary publication from the International Organization of Securities Commissions (IOSCO) establishing regulatory benchmarks for credit rating agencies (CRAs) is its Statement of Principles on the activities of Credit Rating Agencies, first issued on 25 September 2003 (the Statement of Principles). IOSCO also released the Code of Conduct Fundamentals for Credit Rating Agencies (the Code of Conduct), initially published in December 2004 and most recently updated in March 2015. CRAs are required to take IOSCO’s Statement of Principles and Code of Conduct into account in their work, and national regulators are required to reflect these standards within regulatory requirements and guidance. The Code of Conduct sets out the following definitions of a ‘credit rating’ and a ‘credit rating agency’: Credit rating—an opinion on the creditworthiness of an entity, a credit commitment, a debt or debt‑like instrument, or an issuer of such obligations, expressed through a recognised and defined ranking system. Credit ratings are not recommendations to buy, sell, or hold any entity Credit...

International Organisation of Securities Commissions The International Organisation of Securities Commissions (IOSCO) was formed in 1983 following a resolution by a group of securities regulators from North and South America. Its reach broadened rapidly in 1984, with UK regulators among the earliest non‑American participants. Today, its members oversee more than 130 jurisdictions, accounting for over 95% of the world’s securities markets... IOSCO sets global benchmarks for securities markets and serves as the principal forum for co‑operation among market regulators. Beyond standard‑setting, it delivers technical assistance, particularly to regulatory authorities in emerging securities markets. It has introduced key measures that underpin cross‑border co‑operation, curb global systemic risk, protect investors, and support fair, efficient markets. These include: a methodology that articulates IOSCO’s interpretation of its Objectives and Principles of Securities Regulation (the IOSCO Principles) a multilateral memorandum of understanding (IOSCO MMoU) enabling cross‑border enforcement and the exchange of information among securities regulators worldwide, which has become the benchmark for international co‑operation among such authorities...