Apr 03, 2013
Sydney, April 1st 2013 - Mr. Greg Medcraft, chair of the Australian Securities and Investments Commission, took over as chair of the International Organization of Securities Commissions (IOSCO) Board at its meeting in Sydney on 21- 22 March. He succeeds Mr. Masamichi Kono of the Japan FSA. The Board also elected Ontario Securities Commission chairman Mr. Howard I. Wetston as IOSCO vice chair following the retirement of Mr. Ethiopis Tafara.
"I am delighted to be appointed chair of IOSCO and I salute and thank Masa Kono for his leadership of IOSCO,” Mr. Medcraft said. “Under my stewardship, I want to build on Mr. Kono's work and ensure IOSCO is proactive and forward-looking in delivering three objectives – working to ensure that globally investors are confident and informed, markets are fair and efficient and reducing systemic risk."
Mr. Medcraft said that during his term as chair IOSCO would work toward these objectives through:
• Engagement with members and stakeholders;
• Co-operation across its membership and with industry; and
Mr. Wetston said: "I am looking forward to working with Greg Medcraft to advance IOSCO's standard setting agenda, including new mandates on investor protection and education, cross-border regulation and deterrence. I would also like to take this opportunity to thank Masamichi Kono for his leadership and contributions to IOSCO."
Mr. Kono said: “I would like to express my gratitude to everyone at IOSCO for their kind support during my tenure as chair. Our collective strength has enabled IOSCO to make important headway on international regulatory reform and elevated the visibility and relevance of IOSCO with global stakeholders. I am confident that further progress will be made under the most capable leadership of my successor.”
Read more here.
Re-disseminated by The Asian Banker