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.
The work program also provided an update on six other 2020 priorities: passive investing and index providers, market fragmentation, crypto-assets, artificial intelligence and machine learning, retail distribution, and digitalization.
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