The Capital Market Authority has participated in meeting of the Emerging and Developing Markets Committee of the IOSCO hosed by the Russian Federation In Petersburg. The Sultanates delegate was presided by HE Sheikh Abdullah Salim Al Salmi Executive President.
The participation was with aim of acquainting with the key developments in the global markets and the technical research and studies on the development of regulatory aspects of the stock markets as well as exchange of expertise and assessment of the level of regulatory and legislative standards in the Omani markets.
The committee discussed financial technology as common priority between securities commissions in the developing and emerging markets and their role in improving the outcome for the consumers through expansion of options, reduced prices, reduced transactions cost and improved transparency with regard to products and markets which would contribute to further efficiency as well as employing technology in regulatory problems solving. The meeting also reviewed the challenges and opportunities for regulators to build sustainable financial markets.
IOSCO was established in 1983 as global standards setter for securities markets through cooperation and encouraging adherence to international standards in regulation and supervision for the protection of investors and the provision of fair, efficient and transparent market and addressing systemic risks.