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Monitoring Board Chairman’s welcome and update

Date recorded:

Mr Masa Kono, Monitoring Board Chair, opened the meeting and welcomed all present and on the webcast.

Mr Kono noted that the Monitoring Board was in the process of appointing up to four permanent members, primarily from emerging market jurisdictions.  The Monitoring Board would announce formally ‘within a few days’ the appointment of two ‘permanent’ members of the Monitoring Board: the Brazilian Comissão de Valores Mobiliários and the [South] Korean Financial Services Commission.  A further two permanent members would be appointed from applicants after an ‘extended screening process.’

In addition, the Monitoring Board was undertaking an assessment of its existing members: this involves a peer review and an assessment against the Monitoring Board’s membership criteria.  The results of this review would be published.

Finally, the Monitoring Board is also working in consultation with Mr Greg Medcraft, Chair of the IOSCO Board, to appoint two ‘rotating members’ of the Monitoring Board.

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