IOSCO to outline new role of regulators at conference
Monday, April 13, 2009 : Permalink
Jerusalem Post – While the recent G-20 summit in London provided world financial leaders with the opportunity to begin charting a path of recovery for the ailing global economy, the work to build the markets up and to ensure that a crisis like this never happens again will be left to the world’s securities regulators. Regulators around the world, due to their supposed lapse of supervision on the international securities industry, have come under fire for their role in allowing the crisis to occur. Here in Israel, the country’s chief securities watchdog, Prof. Zohar Goshen, chairman of the Israel Securities Authority, has also been a center of attention with the publication of his "Goshen Plan," an ambitious agenda that seeks to restructure the local corporate bonds market by giving institutions a government guarantee covering 75-80 percent of new corporate bonds issued. This means the institutions will bear 20% of any loss, with the government bearing the rest.
Tags: ambitious agenda, bonds market, center of attention, corporate bonds, financial leaders, global-economy, goshen, government guarantee, institutions, international securities, israel, jerusalem post, london, regulators, securities-industry, summit, supervision, watchdog, zohar
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