IOSCO Emerging Markets Committee addresses crisis  attorney in china shanghai 
 The International Organization of Securities Commissions (IOSCO) Emerging Markets Committee
(EMC) met in Marrakech this week and decided to launch an EMC Chairman’s Task Force to assess the
implications of the current financial crisis within emerging markets jurisdictions, with a particular focus on structured financial products.  The first step will be an urgent assessment of the impact of the current turmoil on members’ markets and their regulatory responses.  
 
Mr Guillermo Larrain, Chairman of the Emerging Markets Committee, said:
 
“We are launching this Task Force following discussions of Emerging Markets Committee members’ concerns about the impact of the current financial crisis on their markets.  While members have made significant advances in structural and regulatory reforms in recent years, there is now a need for members to review policy responses to the effects of global financial crisis and improve coordination. 
 
“The Task Force will also address the role of structured financial products in market development and will work closely with the International Monetary Fund on this issue, who is currently in the process of finalising several case studies on securitization in emerging markets.”
This work will lead to the development of standards of good practice for emerging markets aimed at mitigating vulnerabilities in these markets and providing a sound basis for long term development.
 
NOTES FOR EDITORS 
 
1.  The Emerging Markets Committee Annual Conference is currently being hosted in Marrakech by the Conseil déontologique des valeurs mobilières (CDVM) of Morocco.
 
2.  IOSCO is recognized as the leading international policy forum for securities regulators. The organization's wide membership regulates more than 90% of the world's securities markets and IOSCO is the world's most important international cooperative forum for securities regulatory agencies. IOSCO members regulate more than one hundred jurisdictions and the Organization's membership is steadily growing.        
   
3.  The Emerging Markets Committee is a specialised working group established by IOSCO’s Executive Committee, representing the world’s emerging financial markets.  It endeavors to promote the development and improvement of efficiency of emerging securities and futures markets by establishing principles and minimum standards, preparing training programs for the staff of members and facilitating exchange of information and transfer of technology and expertise. 
            
4.  Mr. Guillermo Larrain, Chairman of the Superintendencia de Valores y Seguros of Chile, currently acts as Chairman of the Emerging Markets Committee.          
5.  IOSCO aims through its permanent structures:
*  to cooperate together to promote high standards of regulation in order to maintain just, efficient and sound markets; 
*  to exchange information on their respective experiences in order to promote the development of domestic markets; 
*  to unite their efforts to establish standards and an effective surveillance of international securities transactions; 
*  to provide mutual assistance to promote the integrity of the markets by a rigorous application of the standards and by effective enforcement against
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