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IOSCO inaugurates investor education initiative

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The International Organisation of Securities Commission has inaugurated an investor education initiative aimed at protecting the investors.

A statement by IOSCO explained that the initiative was inaugurated on its website on Tuesday.

It said the online tool was part of IOSCO’s broader investor education initiative  aimed to enhance the sharing of investor education information among IOSCO members and the public.

The statement added that the information contained online investor education materials from many of IOSCO’s members, as well as published IOSCO reports and presentations regarding investor education.

The General Secretary, IOSCO, Mr. David Wright, was quoted in the statement as saying that the organisation regarded the issue of investors’ enlightenment as very essential owing to the fact that it was important for investors to be protected in any given market.

He said, “Investor education is an important element of investor protection, growing in importance and at the heart of IOSCO’s work and all of IOSCO’s members’ interests.

“Through the Investor Education Gateway we can share with the general public all the outstanding online efforts that our members are conducting with respect to investor education. I am delighted 40 members’ investor education information is already on the website.”

He said  the gateway would be further populated as more information was made available and more IOSCO members contributed to the gateway with their online investor education materials.

Earlier this year, IOSCO announced recommendations aimed at protecting client assets.

The recommendations, published by the organisation, were expected to improve the supervision of intermediaries which handle client assets.

The commission explained in the statement that recent events such as the Lehman Brothers and MF Global insolvencies have highlighted the importance of client asset protection regimes.

It added that investors were trying to better understand the implications of placing their assets with particular intermediaries and in certain jurisdictions, adding that regulators have been seeking to address risks to client assets and determine how to transfer or return client assets in default, resolution or insolvency scenarios.

The statement said, “The principles published provide guidance to regulators on how to enhance their supervision of intermediaries holding client assets by clarifying the roles of the intermediary and the regulator in protecting those assets.

“Many jurisdictions have rules and regulations governing client assets, although their protection regimes may vary across these jurisdictions.

“The report outlines the intermediary’s responsibility to ensure compliance with these rules, including through the development of internal systems and controls to monitor compliance.”

The statement explained that where the intermediary places client assets with third parties, the intermediary should reconcile the client’s accounts and records with those of the third party.


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