New Iosco chief confirmed

Michel Prada, president of the Autorité des Marchés Financiers - the French regulator - has stepped down from his additional role as chairman of the technical committee for the Madrid-based International Organisation of Securities Commissions (Iosco).

Prada relinquished his post after the Iosco conference held in Paris at the end of May, where he presented the technical committee's task force's conclusions on the effects of the subprime crisis. In that report, a voluntary code of conduct for rating agencies was outlined.

He has been replaced by Christopher Cox, chairman of the US Securities and Exchange Commission. Iosco's technical committee comprises 15 global regulators and oversees the securities industry.

Hans Hoogervoorst, chairman of the executive board of the Autoriteit Financiële Markten - the Dutch financial markets supervisor - was elected as vice-chair of the technical committee at the same time.

Jane Diplock, chairperson of the New Zealand Securities Commission, was re-elected to the position of Iosco's chairperson at the conference.

See also:

Iosco stiffens code of conduct for rating agencies SEC's Paul Atkins to step down