SECP re-elected to chair IOSCO panel

KARACHI (October 22 2003): The Securities Exchange Commission of Pakistan (SECP) through its Chairman, Dr Tariq Hassan, has been re-elected to chair the 'International Organisations of Securities Commissions (IOSCO)'s Working Group on Regulation of Market Intermediaries.

The election took place in the first meeting of the Working Group, convened recently in Seoul, South Korea. In the meeting, the SECP was elected to chair the Working Group for consecutive terms.

Earlier, it had been elected to chair for the first time in the meeting of the Emerging Markets Committee (EMC) held in October 2002 in Malaysia.

Over this period, the SECP developed a proposal to set out the mandate of the Working Group, which was duly approved by the Group as well as the EMC.

Accordingly, the Working Group on Regulation of Market Intermediaries, under the Chairmanship of Dr Tariq Hassan, will now deal with “cross-border activities of multinational securities firms”.

IOSCO is the primary forum for international co-operation among securities regulators and is organised as the international standard-setter for the securities sector.

IOSCO currently has 181 members from more than 100 countries jurisdictions.

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