IOSCO issues consultation on proposals to increase the effectiveness of the compliance function of market intermediaries

On 18 April 2005 the International Organisation of Securities Commissions (IOSCO) published a Consultation Paper entitled "Compliance Function at Market Intermediaries". As a result of the recent increased focus on compliance in different jurisdictions, IOSCO has worked to develop possible supplemental principles to principle 23 of its 2003 paper, IOSCO Objectives and Principles of Securities Regulation for market intermediaries.

Presented for consultation are proposals for supplemental principles relating to: establishing the compliance function; the role and responsibilities of the board of directors or senior management; the independence of the compliance function and its ability to act; qualification of compliance personnel; assessment of the effectiveness of the compliance function; supervision by regulators; cross border issues; and outsourcing of the compliance function. Comments on the Consultation Paper are invited by 15 July 2005.


 

The full text of this resource is available by logging in or by requesting a trial. If you have any questions, please contact us or your Practical Law Account Executive.

Free trial

A free trial will give you:

Unlimited access to our online legal know-how services during the trial period
Full training and support
Six issues of Practical Law The Journal, the companion to Practical Law online
Weekly update e-mails on current legal developments in your practice area
 

Login

Subscribers and trialists can login below

Contact Us

If you need assistance logging in or have any questions about our services, please contact us.

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247246400643", "objName" : "IOSCO issues consultation on proposals to increase the effective", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/2-200-6221?q=&qp=&qo=&qe=", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "false", "analyticsPermCookie" : "2-63e4213:14823d3ac40:22c1", "analyticsSessionCookie" : "2-63e4213:14823d3ac40:22c2", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }