Download This PaperBrexit, Butterflies and the International Organization of Securities Commissions (IOSCO)
ECFR 2020, 1-2, 2020
2 Pages Posted: 7 Nov 2020
Date Written: March 4, 2020
Abstract
The 10th anniversary of the great financial crisis of 2008 has been characterized by a sense of complacency and self congratulation. A sense of calm, which may be deceptive, has led to a lack of thinking about whether the global financial architecture is apt to address the future challenges rather than just those of the past. One key international player has been left relatively untouched after the 2008 crisis: the International Organization of Securities Commissions (IOSCO). However, new risks have emerged mostly in financial markets. One of the issues is how equivalence and deference among jurisdictions can lead to more integrated cross border activities while maintaining financial stability. Brexit provided the spark to an issue which has been slowly growing in importance. The articles published in this issue of the European Company and Financial Law Review provide deep analysis and ambitious proposals to improve the situation, up to the creation of a World Finance Organisation to replace IOSCO.
Keywords: IOSCO, International Organisation of Securities Commissions, Equivalence, Financial Regulation, Global Financial Regulation,Brexit
JEL Classification: K22, K33
Suggested Citation: Suggested Citation
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Helene Ruiz Fabri
Max Planck Institute Luxembourg for Procedural Law ( email )
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