David wright iosco biography

Our work on enforcement. IOSCO has a remarkable instrument here called the Multilateral Memorandum of Understanding, which has got over countries signed up, on mutually helping each other on enforcement. The whole area of benchmarking is incredibly important because we have seen very serious damage by the manipulation of benchmarks and we have to put this right.

And if you look at the surveys of lack of trust in the financial industry, it is almost rock bottom today. Two other issues which are high on our agenda are cyber resilience, cyber crime; a lot of people are very worried about this and how it can affect markets, participants in markets and so forth. And the other one is the quality of audits in general of companies who are listed.

I think the motives are very different here; they can be financial or other that want to disrupt the global financial system; it can be political, it could come from North Korea or it can be for personal gain in a financial sense or from anti-capitalist tree dwellers. Now, we were the first of the standard setters, I think, to start taking this subject very seriously and the work we did with the World Federation of Exchanges I think was pretty exemplary in that respect.

There are implications for enforcement, implications of exchanging information, implications for intermediaries. Almost every IOSCO committee we have is looking at how we can possibly cooperate more on subjects like this. It is also important for the whole of the market that this trading is disclosed to regulators, so consolidated tapes can be put together as they are in the U.

Trading has to be fair and transparent, if it is not then I have a serious problem with any system that does not have those characteristics. I worry about incentives in a system which helps an asset manager to get privileged access or an investment firm to be able to get better conditions; it has got to be fair to everybody, including and most importantly, to retail investors; their savings and pensions are tied up in all of this.

Anything that is unfair, privileged or conflicted is not acceptable as far as I am concerned. And that is the job of regulators, to make sure that these markets function according to the principles and rules that are fundamental to securities markets. Where do you think this should begin? In school, in primary school. We have to teach children about money, teach them what it is.

David wright iosco biography: He represented IOSCO in the Financial

You have a biased asymmetric information system here. In other words, all of the information is with the supply side. The ordinary consumer, by and large — and all the surveys show this — knows next to nothing. We have seen endless examples of consumers being ripped off, legacy bonds sold to aging grandmothers and all sorts of packaged up insurance products, bundled with bank loans, mis-selling of multiple forms.

Along with that, we need Draconian sanctions for all those who mis-sell and defraud. And that, for me, means jail. Thursday, Jan 30, Keeping the playing field level. Manufacturing, Japan. Optrontec Inc. South Korea. Fashion, Japan. Akiyo Hirakubo President. Yasuhiro Togashi CEO. Tetsuya Okusako CEO. Yuko Takahashi President. Manufacturing May 03, Finance December 06, Real Estate March 06, Food August 02, Fashion December 12, He was first appointed in October Ashley started his career as a lawyer in London in He moved to Hong Kong in with the international law firm Herbert Smith, practicing corporate and business law.

DG FISMA is responsible for EU-level policy making and legislative initiatives with respect to the financial sector, including Banking Union, Capital Markets Union, sustainable finance, digital finance, anti-money laundering and sanctions. John has been a Commission official since the mids and has spent most of that time working on financial-sector issues - first in DG ECFIN where he contributed to macro-financial analysis in general and more specifically to financial-sector aspects of the assistance programmes for Member States and now in DG FISMA.

He worked on preparations for the introduction of the euro in and was secretary of the so-called Giovannini Group, which produced reports, inter alia, on issues related to euro-denominated debt issues and post-trading in EU securities markets in the early s. In the mids, he worked for several years with the International Monetary Fund.

David wright iosco biography: After graduating from Worcester

John has a masters degree in economics from University College Dublin. He is married with two children. In he founded Alpha Associates Ltd. He holds mandates as a professional board member with various companies and foundations in Switzerland. Peter Derendinger is a Swiss citizen. Prior to this, he worked in various senior front office positions at Credit Suisse in Switzerland and North America for twenty years, seven of which as Chief Risk Officer for Corporate and Private Banking.

Axel P. Lehmann has more than three decades of professional experience, spanning the financial services industry and an academic career. During the last 25 years, he has worked in both the international insurance and global banking sectors.

David wright iosco biography: David Wright. Secretary General,

Prior to joining Credit Suisse, Axel P. Between andhe served as a non-executive director and a member of the Risk Committee of UBS Group and was a member of the Governance and Nominating Committee from to Earlier in his career, he spent almost 20 years at Zurich Insurance Group, of which 14 years were as a member of the Group Executive Committee.

Lehmann currently holds mandates at several academic and non-profit institutions, including serving as an adjunct professor at the University of St. Gallen, Switzerland. Cecilia Skingsley took up the post of Deputy Governor in In Novembershe was appointed First Deputy Governor. In addition, Cecilia chairs the retail payments council, the cash management advisory board and is a member of the Financial Stability Council.

There she was appointed Deputy Head of Mission in In these functions, Daniela Stoffel was involved in safeguarding and dealing with current financial policy issues and challenges and in the corresponding international negotiations and contacts.