​The Capital Market Authority (CMA) participated in the Board meeting of the International Organization of Securities Commissions (IOSCO), held on 22-23 February 2017 in Milan, Italy. In addition, the CMA participated in the meeting of the Steering Committee of the Growth and Emerging Markets Committee (GEMC). The CMA’s delegation was headed by Dr. Abdulrahman Albarrak, CMA’s board member. A number of topics related to the regulation of financial markets, common challenges and potential risks in these markets, particularly information security, were discussed by the member states during the two meetings.
The Board discussed several issues related to financial markets, most importantly:

• Economic global developments and their impact on financial markets.
• FinTech developments and challenges facing regulators in this area; surveillance mechanisms to reduce their risks to investors.
• Experiences of some jurisdictions and learned lessons.
• Projects that IOSCO will work on in the upcoming period based on the priorities set by the Board.
• International cooperation and coordination on information exchange among regulators and its impact on laws and regulations enforcement as well as enhancing investor protection.

Furthermore, the GEMC’s Steering Committee discussed the mechanisms to promote cooperation among member states and facilitate the provision of financial markets’ data as well as the projects that the Committee will focus on in the upcoming period.
IOSCO has 214 members of the authorities and regulators of financial markets and has an active presence in the areas of regulation and development of standards and principles governing financial markets. IOSCO’s Board is made of 34 members. The CMA has been re-elected as member of this Board for the 2016-2018 term.

Apart from its membership in the Board of IOSCO, the CMA is actively involved in many Board committees, such as the Growth and Emerging Markets Committee (GEMC) and its steering committee, in addition to being a member in both the Committee for Emerging Risks (CER) and the Africa Middle East Regional Committee (AMERC) as well as (6) different committees of the IOSCO Board’s eight policy committees.