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IOSCO report describes three tools commonly used by its members to regulate cross-border securities market activities
International Organization of Securities Commissions report analyzes three cross-border regulatory tools; i) national treatment; ii) recognition; and iii) passporting. Under national treatment, the domestic regulator treats foreign persons, entities and products in the same manner as domestic ones. Under recognition, the domestic regulator permits activities of persons or entities from recognized foreign jurisdictions to take place. Passporting permits market access between the jurisdictions covered by the passporting arrangement based on a common set of rules. Provides supporting case studies, a description of the processes used to assess comparability of foreign regulatory regimes, and considerations on how to apply the toolkit under different national circumstances.
Publisher:
Global Standard-Setting Bodies
Release date:
Aug 2015
Type:
Consultative, discussion and issues paper
Topics:
Cross-border cooperation, Supervisory framework, Conduct, Systemic risk
Sectors:
Securities
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