During a [meeting](http://www.iosco.org/news/pdf/IOSCONEWS366.pdf) in Seoul this week, the Board of the International Organization of Securities Commissions (IOSCO) discussed and progressed policy, organizational and strategic issues. In particular, it pushed forward its work on securing strong, safe and efficient securities markets, which are drivers of global economic growth. Chairman Greg Medcraft said: *”Our work plan underscores IOSCO’s commitment to building trust and confidence in the markets members regulate. Without this trust and confidence, the markets we regulate won’t do their job of supporting economic growth”*.
Discussions also included the shaping IOSCO’s future capacity building, which seeks to build strong regulatory frameworks in emerging capital markets. The Board discussed details of a new Online Toolkit for Regulatory Capacity Building and the design of new modules for education and training and technical assistance on risk-based supervision and enforcement, in addition to two regional training seminars for the coming year in Qatar and India. Significantly, the Board agreed in principle to establish pilot IOSCO regional capacity-building hubs hosted by member jurisdictions. The pilot hubs will support IOSCO’s integrated capacity building approach by delivering capacity building activities and programs to securities regulators in the various regions.
As part of its ongoing efforts to promote international cooperation on enforcement, IOSCO invited the Bank of Russia and the Financial Services Commission of Jamaica to become signatories of the MMoU on cooperation and the exchange of information, which would bring to 105 the total number of signatories. The MMoU is the instrument used by securities regulators around the world to fight cross-border fraud and misconduct.