International Organization of Securities Commissions

The International Organization of Securities Commissions (IOSCO) is an international association of securities regulators that develops and promotes globally recognized standards for the regulation of securities markets. Established in 1983 as the successor to the Inter-American Regional Association of Securities Commissions, IOSCO is headquartered in Madrid, Spain. The organization serves as the principal international standard-setting body for securities regulation, bringing together securities commissions, financial market regulators, stock exchanges, and other supervisory authorities from jurisdictions representing the vast majority of the world's capital markets.

IOSCO's primary objectives are to protect investors, ensure that securities markets are fair, efficient, and transparent, and reduce systemic risk within the global financial system. To achieve these goals, the organization develops principles, policy recommendations, and best practices covering areas such as market integrity, issuer disclosure, corporate governance, enforcement, investment management, derivatives regulation, market infrastructure, sustainable finance, fintech, crypto-assets, and cross-border regulatory cooperation. Its Objectives and Principles of Securities Regulation are widely regarded as the international benchmark for securities market oversight and are used by regulators worldwide in developing and evaluating regulatory frameworks.

Membership in IOSCO includes securities regulators from more than 130 jurisdictions, encompassing ordinary, associate, and affiliate members. Its ordinary members include national securities commissions and financial regulatory authorities responsible for supervising securities markets, while affiliate members include self-regulatory organizations, stock exchanges, international financial institutions, and other market infrastructure providers. IOSCO also administers the Multilateral Memorandum of Understanding (MMoU) and the Enhanced Multilateral Memorandum of Understanding (EMMoU), which establish frameworks for cooperation and information sharing among securities regulators in the investigation and enforcement of cross-border securities violations.

IOSCO works closely with international organizations including the Financial Stability Board (FSB), the Bank for International Settlements (BIS), the International Monetary Fund (IMF), the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the World Federation of Exchanges (WFE). Through research, policy coordination, technical assistance, and regulatory cooperation, IOSCO plays a central role in strengthening the resilience, integrity, and transparency of global capital markets while promoting investor confidence and financial stability across jurisdictions.