Global securities regulators to meet in Dubai

Dubai: The Dubai Financial Services Authority (DFSA) will for the first time host a major meeting of international securities regulators in Dubai from Sunday.

The meeting will end on Wednesday.

DFSA will host the Emerging Markets Committee (EMC) of the International Organisation of Securities Commissions (IOSCO), which represents more than 90 per cent of the world's securities regulators.

The EMC is the largest of the IOSCO's three main committees, with members representing more than 80 jurisdictions.

Over 120 regulators from Africa and the Middle East, Asia, South America and Eastern Europe are expected to participate in meetings to discuss the status of IOSCO's work programme in promoting international standards.

These discussions will be held in private, but a public session on Thursday will discuss key issues for securities market development in emerging markets.

The meeting will be hosted by David Knott, chief executive of the DFSA.

Attending the meet will be IOSCO's international leadership group, which comprises the chairman of the executive committee, Jane Diplock of New Zealand; the chairman of the technical committee, Michel Prada of France; and the chairman of the EMC, Meleveetil Damodaran of India. Representatives of the US's Securities and Exchange Commission and the UK's Financial Services Authority will also be in attendance.

The regulators will also visit the Dubai International Financial Centre.

Knott said: "The EMC is an important forum for the adoption and implementation of international standards for capital market regulators in developing economies."