This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IOSCO task force will address financial fraud

  • IOSCO (International Organization of Securities Commissions) (dark gray) Image

11 Feb 2004

The International Organization of Securities Commissions has appointed a special Chairmen's Task Force, composed of chairmen of a number of member commissions, to organise and coordinate IOSCO's response to recent high profile incidents of securities fraud and market abuse. "As a priority, the Task Force will: identify potential new issues arising from recent cases, including concerns about transparency in the bond markets, the role of unregulated entities, the role of complex group structures, and appropriate levels of sanctions; review implementation of existing standards, including current mechanisms for international cooperation; and suggest responses aimed at producing appropriate regulatory incentives, such as improving risk identification and assessment by regulators and giving attention to uncooperative and under-regulated jurisdictions. The recent revelations of accounting and auditing irregularities serve to emphasize the critical importance of the initiatives that IOSCO and its national securities commission members have taken relating to corporate disclosures and the quality of audits of public companies.

High quality accounting principles and the availability of high quality audits of public companies is critical to the proper functioning of securities markets and the protection of investors." Click for IOSCO Press Release (PDF 236k).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.