CMA attends Emerging and Developing Markets forum

The Capital Market Authority (CMA) participated in meeting of the Emerging and Developing Markets Committee of the IOSCO hosted by the Russian Federation in Petersburg. The Sultanate’s delegation was led by Shaikh Abdullah Salim al Salmi (pictured), Executive President — CMA.

The event afforded Oman the opportunity to get acquainted with key developments in the global markets, and technical research and studies in the development of regulatory aspects of stock markets, and in the exchange of expertise and assessment of the level of regulatory and legislative standards in the Omani markets.

The committee discussed financial technology as a common priority between securities commissions in the developing and emerging markets and their role in improving the outcome for the consumers through expansion of options, reduced prices, reduced transactions cost and improved transparency with regard to products and markets which would contribute to further efficiency as well as employing technology in regulatory problems solving. The meeting also reviewed the challenges and opportunities for regulators to build sustainable financial markets.

IOSCO was established in 1983 as global standards setter for securities markets through cooperation and encouraging adherence to international standards in regulation and supervision for the protection of investors and the provision of fair, efficient and transparent market and addressing systemic risks.