International & EU

 

London is the world's largest and most diverse international market place.  The world we live in is one where financial services companies are increasingly global in their scope, and where cross border transactions are ever more important.  So as the UK regulator, we inevitably have a key role to play in the international financial community. 

Accordingly, we are actively engaged in the work of the International Organisation of Securities Commissions (IOSCO), the Basel Committee on Banking Supervision (Basel), and the International Association of Insurance Supervisors (IAIS).  These bodies aim to foster fair, efficient, transparent and sound markets, by promoting international co-operation and mutual assistance, by developing the highest standards of regulation, and by exchanging experience to help the development of domestic markets.  They set international regulatory standards, and promote the integrity of markets by encouraging the implementation and enforcement of these standards.

In addition, we also participate in the work of the Financial Stability Forum, which seeks to identify developing risks and to take mitigating action before they have a chance to develop into a problem.  We are also engaged in the work of the Joint Forum, which looks at issues common to all financial services sectors, and at the supervision of financial conglomerates. And we are also involved in the work of the Financial Action Task Force, which develops and promotes policies and procedures, both at national and international levels, to combat money laundering and terrorist financing.

A short summary of the work of these committees and a simplified representation of the committee structure are given in Section E of the International Regulatory Outlook [PDF]. 

For more details of the work of these organisations, visit their websites: