Substituted compliance requires global oversight, warns Iosco’s Wright
Substituted compliance unlikely to work without a global body to settle disputes, says Iosco secretary-general
A system of substituted compliance between national regulators is unlikely to work unless overseen by a global body that can settle disputes and co-ordinate rule-making, according to David Wright, secretary-general of the International Organisation of Securities Commissions (Iosco).
The topic rose to prominence following guidance from the Commodity Futures Trading Commission last July. The
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