IOSCO Standards Implementation Monitoring (ISIM) Program on Secondary and Other Market Principles

Principles 33: The establishment of trading systems including securities exchanges should be subject to regulatory authorization and oversight;

Principles 34: There should be ongoing regulatory supervision of exchanges and trading systems which should aim to ensure that the integrity of trading is maintained through fair and equitable rules that strike an appropriate balance between the demands of different market participants;

Principles 35: Regulation should promote transparency of trading;

Principles 36: Regulation should be designed to detect and deter manipulation and other unfair trading practices;

Principles 37: Regulation should aim to ensure the proper management of large exposures, default risk and market disruption.

The participants have to fill a questionnaire in this exercise which is closely aligned to the revised Methodology for Assessing Implementation of the IOSCO Objectives and Principles  of Securities Regulation (Methodology) published by IOSCO in May 2017. The FSC has already submitted the questionnaire.

The Deliverables of the final report will:

• Set out the main findings on the status of implementation of secondary and other market Principles;
• Identify gaps in implementation;
• Identify good practices in implementation; and
• Identify any area which might be useful for IOSCO for future policy work, capacity building or technical assistance.

The final report will provide a global overview of the status of implementation of each of these five Principles by member jurisdictions.