The Astana Financial Services Authority (AFSA), the regulatory body of the Astana International Financial Centre (AIFC), has been accepted as an associate member of the International Organization of Securities Commissions (IOSCO).
The IOSCO is an international standard setting body that brings together the world's securities regulators and is recognised as the global standard setter for the securities markets.
IOSCO’s objectives are to cooperate with national regulatory agencies in developing, implementing and promoting adherence to internationally recognized and consistent standards of regulation for securities markets. The standards are important in promoting globally consistent approaches to providing regulatory oversight of securities markets, to protect investors, maintain fair, efficient and transparent markets, and to address systemic risks.
IOSCO members regulate over 95% of the worlds securities markets in more than 115 jurisdictions. Securities regulators in emerging markets account for 75% of its ordinary membership.
Stephen Glynn, the Chief Executive Officer of the AFSA, said: “Our membership of IOSCO will result in greater global recognition of the Astana Financial Services Authority as an internationally respected regulator. This recognition will facilitate the development of the Astana International Financial Centre as a regional hub for financial services and capital markets in Eurasia”.
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