IOSCO published the work program for 2020. The work program calls for IOSCO to continue its efforts on the five priorities for 2019 while undertaking work on a new priority concerning the rising levels of corporate debt and leveraged loans and the potential resulting risks in capital markets. The priorities from 2019 that will continue to be priorities in 2020 constitute work that relates to crypto-assets, artificial intelligence and machine learning, market fragmentation, passive investing and index providers, and retail distribution and digitalization. The work program elaborates on the timelines of the key deliverables in these areas.
For corporate debt and leveraged finance, IOSCO will focus its attention on the risks created by the current origination practices, the chains of intermediation in the corporate debt market, and the associated conflicts of interest. To this end, IOSCO will publish a report on conduct-related issues in the leveraged loans and collateralized loan obligation markets. Other important workstreams include those related to asset management, particularly in the areas of liquidity risk management and leverage. Additionally, IOSCO will maintain its focus on systemic risk in capital markets across its different workstreams and continue to collaborate and engage effectively on this topic with FSB and the other standard-setting bodies. IOSCO will further its efforts in fintech and sustainable finance, including through the Sustainable Finance Network and the Fintech Network, and will pursue matters of special importance to growth and emerging markets. The work program also refers to other important workstreams that are being carried out by the eight Policy Committees of IOSCO.
Keywords: International, Securities, Work Program, Crypto Assets, Market Fragmentation, Corporate Debt, Leveraged Lending, Regtech, Fintech, IOSCO
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