SIFMA AMG Statement on IOSCO Strategic Direction Announcement

Release Date: June 17, 2015
Contact: Liz Pierce, 212-313-1173, [email protected]

SIFMA AMG Statement on IOSCO Strategic Direction Announcement

Washington, DC, June 17, 2015 – SIFMA today issued the following statement from Tim Cameron, managing director and head of SIFMA’s Asset Management Group, on the communiqué released today by the Board of the International Organization of Securities Commissions (IOSCO):

“The Asset Management Group of SIFMA applauds IOSCO for the constructive approach it is taking by giving priority to a full review of asset management activities and products. We agree that this work should take precedence over the misguided workstream considering designation methodologies for the identification of systemically-important asset managers or funds.

“Further, SIFMA AMG continues to believe that a review of products and activities is best undertaken by securities regulators who have the relevant expertise, and support IOSCO’s role in this review.

“Given the characteristics of the asset management industry, it simply makes sense to review market activities rather than entities. We appreciate IOSCO’s consideration of this important matter.”