Global securities regulators met this week to discuss the ongoing reform agenda and their plans for bolstering investor confidence.

The International Organization of Securities Commissions (IOSCO) reports that its board met in Seoul, South Korea, during the week, which included a roundtable discussion on the impact of technological innovation on financial markets. It reports that the board discussed how the pace of innovation is changing the way financial markets operate, and how securities regulators should address the new challenges and opportunities that emerge.

“The roundtable discussion was a good example of IOSCO’s resolve to anticipate significant change and understand the different types of emerging risks that could weaken global markets and undermine investor trust,” said IOSCO chairman, Greg Medcraft. “We need to work with all stakeholders to harvest the opportunities that new technologies can deliver, while mitigating the potential risks.”

At the same time, it also discussed a list of policy, organizational and strategic issues, including the designation of systemically important securities firms; reforms to over-the-counter (OTC) derivatives markets; new mandates on secondary bond market liquidity and order routing incentives; and, cyber resilience.

IOSCO reports that its board also discussed current risks in capital markets; provided direction on a proposal to identify the risks stemming from market based financing; and, examined a proposal to develop tools for identifying data gaps and eliminating barriers to data gathering. It also discussed its plan for monitoring implementation of IOSCO’s principles.

“Our work plan underscores IOSCO’s commitment to building trust and confidence in the markets members regulate. Without this trust and confidence, the markets we regulate won’t do their job of supporting economic growth,” said Medcraft.

The organization also invited the Bank of Russia and the Financial Services Commission of Jamaica to sign onto its multilateral memorandum of understanding (MMoU) on cooperation and the exchange of information, which is used by regulators to fight cross-border fraud and misconduct.