Most countries have implemented post-crisis reforms to improve the operations and oversight of various aspects of securities markets, according to a report published Wednesday from the International Organization of Securities Commissions (IOSCO).

The report assess the implementation of reform recommendations from the G20 and Financial Stability Board (FSB) following the financial crisis. The recommendations target vulnerabilities revealed by the global financial crisis in various areas, including hedge funds, structured products, credit rating agencies, and commodity derivatives markets, among other things.

Overall, most jurisdictions “have taken steps to implement the G20/FSB recommendations and IOSCO guidance” in each of the areas covered by policymakers, IOSCO says in a statement.

“Implementation is most advanced with respect to hedge funds, structured products and securitization, and the oversight of credit rating agencies (CRAs),” it adds.

The recommendations designed to safeguard the integrity and efficiency of markets have seen slower progress, IOSCO says, but most jurisdictions, “have undertaken some work to harmonize and strengthen their rules.”