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Iosco's Response To The Financial Crisis, Roberta S. Karmel
Iosco's Response To The Financial Crisis, Roberta S. Karmel
Roberta S. Karmel
ABSTRACT FOR IOSCO’S RESPONSE TO THE FINANCIAL CRISIS BY ROBERTA S. KARMEL, Centennial Professor, Brooklyn Law School Like other international financial bodies, the International Organization of Securities Commissions (IOSCO) has responded to the financial crisis of 2008. IOSCO thus revised its Objectives and Principles and added eight new Principles, including two that specifically focused on systemic risk. IOSCO’s ongoing efforts to support these new Principles are parallel to efforts by other financial regulators to deal with systemic risk. Yet, IOSCO’s efforts focus on somewhat different issues in the capital markets than the issues of interest to bank regulators. This Article …