The Chairman of the Belgian Financial Services and Markets Authority (FSMA) and IOSCO Board Chair Jean-Paul Servais has been re-elected chair of the European Regional Committee of the international organization IOSCO. The members of the IOSCO European Regional Committee have re-elected Jean-Paul Servais for a two-year term as chair of the European Regional Committee. He combines this responsibility with the Chairmanship of the IOSCO Board since October 2022.
The ERC convenes 52 members across Europe and enables information sharing and promotes cooperation. The ERC provides an opportunity to discuss issues in relation to IOSCO’s policy work on digital and sustainable finance. It is an influential voice within IOSCO for risk identification purposes as well as an important channel to promote implementation of IOSCO standards. The ERC is also a forum to learn from each other, as the recent ERC Workshop on Supervisory Technologies (SupTech) demonstrated. During the workshop organised at the FSMA in December 2023, ERC Members shared experiences on real-world cases in which they successfully apply new technologies in supervisory activities.
Jean-Paul Servais: “It is an honour to be re-elected for a new term as Chair of the European Regional Committee. This important position allows the FSMA to play an active role in the international debates about financial regulation that is constantly evolving and has an impact on Belgian financial regulation. I truly believe my responsibilities, as IOSCO Board Chair and ERC Chair are complimentary and mutually beneficial for the ERC and the IOSCO Board.”
IOSCO was founded in 1983 and comprises 130 supervisory authorities, which are involved in various capacities in the supervision of 95% of the global financial sector. The objective of the organization is to promote cooperation among market supervisors and to develop international standards and best practices.
IOSCO has four regional committees. The European Regional Committee brings together the 52 European members of IOSCO. The Committee discusses IOSCO initiatives that relate to the strengthening of worldwide standards for financial markets, with particular attention to matters that are of relevance to Europe.
