Global emerging capital market regulators met in Cairo this week and reinforced their commitment to maintain market resilience while focusing on efforts to accelerate the sustainable growth and development of emerging capital markets.
At its three-day annual meeting and conference, the Growth and Emerging Markets (GEM) Committee of International Organisation of Securities Commissions (IOSCO) held a roundtable with leading global industry players and international organisations.
IOSCO is the leading international policy forum for securities regulators and is recognised as the global standard setter for securities regulation. The organisation’s membership regulates more than 95% of the world’s securities markets in more than 115 jurisdictions and it continues to expand.
The GEM committee is the largest of IOSCO’s committees with 94 members, and represents some of the world’s fastest growing economies, including 10 of the G-20 members. The total size of emerging capital markets is currently about $146 trillion.
Participants discussed current risks and vulnerabilities in global capital markets, and how capital market regulators should address these challenges. Reinforcing the theme of resilience, the committee in collaboration with the Toronto Centre also hosted ima workshop to strengthen collective regulatory capacity in crisis preparedness and contingency planning, including reviewing relevant crisis management tools.
The GEM Committee also approved in principle the policy report on SME financing through capital markets. Emerging capital markets have a major role to play in bridging the financing gap for SMEs. The report describes some of the successful measures implemented in capital markets around the world that supported SME financing requirements, and highlights key challenges faced by SMEs in accessing market based financing. The report provides recommendations for regulators to assist capital raising for SMEs in emerging markets.
