IOSCO Releases 2021-2022 Priorities

The IOSCO Board approved its Work Program 2021-2022, which includes a study of (i) systemic risk resulting from non-bank financial intermediation ("NBFI"), and (ii) risks that were increased by the COVID-19 virus, including fraud and operational challenges.

IOSCO outlined its work for 2021-2022 with regard to NBFI activities during the pandemic, including:

• a study of money market funds and of open-ended funds that experienced redemption pressures;
• a review of the corporate bond markets; and
• a report examining the margin dynamics in the cleared and uncleared markets.

IOSCO affirmed its focus on sustainability-related issues in capital markets and stated that, by the end of 2021, it will have delivered reports covering sustainability-related disclosures for issuers and for asset managers, and covering the providers of ratings and data providers relating to sustainability and to environmental, social and governance performance.