Last week, Guernsey’s Financial Services Commission hosted a series of meetings which were being held in Guernsey by the International Organisation of Securities Commission’s Committee 4 and Screening Group. Representatives from 29 countries attended the meetings.
The meetings took place during the 5-7 September and amongst the subjects discussed were the current global threats and the standards required to enable credible enforcement measures to be used by financial services regulators. Other subjects which were considered included the exchange of information around securities and investments with a focus on areas such as market abuse, market manipulation and insider dealing. Committee 4 looks at good practice to ensure that there are appropriate global deterrents in place to offer the maximum protection to financial markets and on how best to enforce against those that seek to do harm to those markets.
Simon Gaudion, the Commission’s Director of Enforcement who sits on Committee 4 and the Screening Group said: "It is very helpful to the Bailiwick that the Commission has a seat on this important IOSCO committee. It ensures that when matters such as new global standards are being discussed, we are present and able, alongside other jurisdictions, to put the case for a proportionate approach to be taken".