IVSC has been working with the IOSCO (the global standard setter for securities regulation) to enhance our collaboration. Recently we have signed Statement of Cooperation with IOSCO, formalising our relationship moving us one step closer towards the goal of IOSCO endorsed International Valuation Standards.
IOSCO is hugely influential and has recognised the importance of consistent and reliable valuation standards as a means of protecting investors and maintaining financial stability. This Statement of Cooperation represents a significant step forward in our efforts to establish IVS and promote valuation professionalism across international markets.
To view full agreement, click here
To enhance your understanding of IOSCO and IVSC working relationship:
- IOSCO are the global standard setter for securities regulation.
- IOSCO membership is comprised of securities and financial market regulatory organisations from around the world.
- Earlier this year IOSCO surveyed its members which revealed inconsistency in the standards applied, and quality of valuations between markets.
- In March, IOSCO and IVSC held a virtual roundtable meeting with leading figures from across the financial world –regulators, standard setters, investors and valuation service providers – urging the two organisations to work collaboratively to advance international standards and high-quality valuation professionalism.
- The Statement of Cooperation outlines steps both organisations will take to enhance their cooperation. It includes, among other things: joint work to identify valuation risks and challenges around quality and consistency; the sharing of IVS with IOSCO and its member organisations; IOSCO review of the IVSC’s standard-setting process and governance etc.
- As a first step the IVSC will make the IVS available to IOSCO member organisations and establish a programme for ongoing engagement with IOSCO Committee 1, which leads on valuation-related matters.
Posted on November 2, 2022