The Board of the International Organization of Securities Commissions (IOSCO) met over two days, 11 and 12 November 2026, at the organization’s headquarters in Madrid.
The Board discussed the 2027 Work Program, the emerging risks landscape outlined in the 2027 Risk Outlook report, and issues on the global regulatory agenda. Discussions focused on assessing the regulatory and supervisory implications of rapid financial innovation, notably artificial intelligence, tokenisation, and quantum computing technology in capital markets.
Board Members also examined vulnerabilities facing market intermediaries from increasingly sophisticated fraudulent schemes, and discussed developments in the audit and accounting sector, with particular reference to private equity investments in audit firms, and considered new initiatives to bolster capacity building.
The Board approved the publications of several statements and reports, which will be released in the coming weeks. Board members also had a constructive exchange of views with Erkki Liikanen, the Chair of the Trustees of the IFRS Foundation, on key developments within the IFRS Foundation.
A new structure for IOSCO’s standing committees takes effect on the day following the board meeting, on 13 November 2026, reflecting the evolutions of financial markets and of the current global regulatory agenda. The new structure includes the following standing committees:
- Accounting, Disclosure, and Auditing (ADA) Committee chaired by Koichiro Kuramochi, Financial Services Agency (FSA) Japan and vice-chaired by Yu Cai, China Securities Regulatory Commission (CSRC)
- Derivatives and Secondary Markets (DSM) Committee chaired by Martina Tambucci, Commissione Nazionale per le Società e la Borsa (CONSOB) Italy and vice-chaired by Carol M. McGee, US Securities and Exchange Commission (SEC)
- Enforcement and Cooperation Committee (ECC) chaired by Eric Jacob, Autorité des Marchés Financiers (AMF) Québec, and vice-chaired by Raffaella Panrano, CONSOB Italy
- Financial Education and Retail Conduct (FERC) Committee chaired by Ali Sulaiman Aldakheel, Capital Markets Authority (CMA) Saudi Arabia and vice-chaired by Camille Beaudoin, AMF Québec
- Investment Management Committee (IMC) chaired by Raymond Chan, Ontario Securities Commission (OSC), Canada and vice-chaired by Mhairi Jackson, Financial Conduct Authority (FCA) United Kingdom
- Wholesale Market Conduct and Intermediation (WMCI) Committee chaired by Maria José Gomez Yubero of Comisión Nacional del Mercado de Valores (CNMV) Spain and vice-chaired by Yasumune Kano of FSA Japan
- Financial Stability Engagement Group (FSEG) co-chaired by Marie-Anne Barbat-Layani, Autorité des Marchés Financiers (AMF) France and Nikhil Rathi, UK FCA
- Assessment Committee (AC) chaired by Laurent van Burik, Commission de Surveillance du Secteur Financier (CSSF) Luxembourg and vice-chaired by Antonio Mas, CNMV Spain
- Committee on Emerging Risks (CER) chaired by Igor Kozhanov, US SEC and vice-chaired by Christophe Majois, Financial Services Market Authority (FSMA) Belgium
- Screening Group (SG) chaired by Dominik Leimgruber, Swiss Financial Market Supervisory Authority (FINMA) and vice-chaired by Marlee B. Miller, US SEC
“I want to thank all colleagues at the Board for the fruitful and insightful exchange of views over the last two days during which we made significant progress on some of the most topical issues facing financial markets. I also want to congratulate the new Chairs and Vice-Chairs of the standing committees and FSEG Co-chairs, whom I thank for their commitment for the 2026-2028 term.” Jean-Paul Servais, IOSCO Board Chair.
See also:
IOSCO launches 10th edition of World Investor Week, 5-11 October 2026 | Disruption Banking
IOSCO announces themes of the 10th edition of World Investor Week | Disruption Banking
