World’s premier financial conference coming to Jamaica
More than 700 delegates from around the world are expected to travel to Jamaica next month as the Financial Services Commission (FSC) hosts the 42nd Annual Conference of the International Organisation of Securities Commissions (IOSCO) in Montego Bay, St James.
This will be the first time that any country in the Caribbean will host the IOSCO annual conference, which should also give a fillip to the local tourism sector.
The FSC made the bid to host the conference to the board of ISOCO some years ago, and Janice Holness, executive director of the commission, said the decision to select Jamaica provides a tremendous opportunity for the country and signals that we are open for business and open for investment.
DRIVE TO EXCEL
"This 'win' is the result of the country's successful path to financial sector reform and our focus on international standards and best practices. It comes against the background of our determination and ever-persevering goal to excel," said Holness.
"It signals that Jamaica is in tandem with the various memoranda of understanding and protocols that have been signed, including anti-money-laundering initiatives.
"Further, it gives the Jamaican and regional financial sectors the opportunity to network with the world's leading regulators from more than 110 jurisdictions," added Holness.
She noted that the FSC is preparing to welcome financial regulators, academics, lawyers and industry specialists to participate in the five-day event titled 'The Role of Markets and Markets Regulators in the Post-Crisis World'.
The Montego Bay Convention Centre will host both the private and public sessions of the IOSCO conference. The private session opens on May 14, while the public session will run from May 17 to 18.
IOSCO is the international body that sets global standards for the securities sector - a major sector in any country's financial system.
The body unites the world's leading securities, futures and capital market regulators, as well as other financial institutions, including stock exchanges, fund managers, securities, and more.
Established in 1983, the IOSCO membership regulates 95 per cent of the world's securities market in more than 115 jurisdictions, including major emerging markets.
The IOSCO Objectives and Principles of Securities Regulation are endorsed by the G20 group of countries and the Financial Stability Board as the relevant standards applicable to the securities industry.
Holness represents the FSC on the board of IOSCO.