The International Regulatory Strategy Group (IRSG) welcomes IOSCO’s report examining the issue of cross-border regulation in securities markets. Every day, firms interact through the global capital markets in many different and sometimes complex ways and these activities are fundamental to funding and managing the real economy. Therefore, international capital flows are a key enabler for growth globally and this must be taken into account in global regulation. Effective cross-border regulation should be seen as a complement to preserving financial stability and maintaining high standards of investor protection and market integrity.
The response includes a Case Study on Third Country Provisions in relation to EU MiFIR proposals, including Equivalence and Reciprocity.
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