IOSCO CONNECTS GLOBAL FINANCE

The 38th Annual Conference of the International Organization of Securities Commissions (IOSCO) with the theme 'Connecting Global Finance' entered its third day with an official opening of the Public Session.  The SEC Nigeria delegation was led by the Chairman of the Board, Dr. Suleyman Ndanusa  and included the Director General, Ms. Arunma Oteh and a Commissioner, Mr. Ugochukwu Ikemba.

IOSCO is the global standard setter for securities regulations. Its membership regulates more than 95 per cent of the world’s securities markets in more than 115 jurisdictions.

The opening ceremony featured a string of high-profile speakers with Jean-Claude Juncker, the Prime Minister of Luxembourg delivering the keynote address, while Jean Guill, Director General  of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg, Greg Medcraft, Chair of the IOSCO Board and David Wright, IOSCO Secretary General, delivered welcome remarks. The common theme of the various remarks was the role of IOSCO as the key global reference point in securities regulation.  The Secretary General of IOSCO, in his remarks, specially acknowledged the vision and exemplary leadership displayed by Ms. Arunma Oteh, the Director General of the Securities and Exchange Commission, Nigeria and the Chair of Africa Middle East Regional Committee (AMERC), in building concensus and for achieving greater visibility for AMERC within IOSCO. 

The conference also featured several panel discussions on topical issues like the challenges supervisory authorities face, the future of growth markets, responsible investment and long term savings and pensions. The Director General, Securities and Exchange Commission Nigeria participated in the panel discussion on “The Future of Growth Markets”, with a focus on the role of capital markets in transforming growth and emerging economies.  She emphasized the enormous potential in the capital market as a funding engine for infrastructure projects, an avenue for wealth creation, entrenching democracy and accountability and enabling financial inclusion. Panelists also observed among others, the need for jurisdictions to employ sound regulatory framework as a major source of comparative advantage as investors and issuers will be attracted to markets with quality regulation.