EM regulators to strengthen sustainable fin, cyber resilience

Sebi and other emerging markets regulators have been committed to strengthen sustainable finance and cyber resilience in stock markets, global body of securities markets IOSCO said in a statement.
At the annual meeting of IOSCO Growth and Emerging Markets (GEM) committee here, the regulators said there is a need for balance between innovation and investor protection, particularly in areas such as crypto currencies and initial coin offerings.
"Greater regulatory cooperation is critical in strengthening resilience and regulatory expertise in relation to cyber threats," Ranjit Ajit Singh, chairman of the GEM committee and vice chairman of the IOSCO board said in a statement.

IOSCO (International OrganiSation of Securities Commissions) is the leading international policy forum for securities regulators and is recognised as the global standard setter for securities regulation.
The event comes at a time when US Securities and Exchange commision (SEC) reported a data breach recently.
The participants also discussed measures to address challenges in scaling up sustainable market based financing, including the role of policy makers, regulators and industry participants in promoting green financing solutions within emerging markets.

Besides, the role of international financial institutions in supporting sustainable capital markets was reviewed.
Other substantive areas discussed included key issues and challenges regarding liquidity in emerging capital markets, as well as possible measures in promoting liquidity to help spur market growth and development.

"There was agreement among emerging market regulators to accelerate the development of sustainable finance, including the establishment of a task force on sustainable finance," Singh said at the event, which attracted more than 300 participants from 50 jurisdictions.
The GEM Committee annual meeting and conference were preceded by the meeting of the IOSCO Asia-Pacific Regional Committee (APRC).
The GEM committee also announced the election of Paul Murithi Muthaura, CEO of the capital market authority of Kenya, as its second vice-chair.