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IOSCO consults on supervision of intermediaries' client assets protection

Feb 08 2013 Compliance Complete news team

The International Organization of Securities Commissions has published a consultation (PDF) on its recommendations protecting client assets, setting out proposed guidance to regulators on how to enhance their supervision of intermediaries holding client assets. Comments on the consultation should reach IOSCO by March 25. Noting that Lehman Brothers, MF Global, and other recent insolvencies had highlighted the importance of client asset protection regimes, IOSCO said in a statement: "Investors are trying to better understand the potential implications of placing their assets with particular intermediaries and in certain jurisdictions. Regulators are seeking to address risks to client assets and determine how to transfer or return client assets in default, resolution or insolvency scenarios. The nine principles published today provide guidance to regulators on how to enhance their supervision of intermediaries holding client assets by clarifying the roles of the intermediary and the regulator

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