The NBG Securities Market Supervision Department participated in a working meeting initiated by the International Organization of Securities Commissions (IOSCO) for the purpose of sharing supervisory approaches and practices.

 

Intended for securities market regulators and supervisors from the developing countries, the meeting brought together about 60 securities regulators from 25 countries of Europe, Asia and Africa.

 

The Georgian supervisors were eager to share the principles used in the securities market supervision with their peers and discuss the ways of their development.

 

During the meeting, the representatives of the National Bank of Georgia discussed the challenges of securities market supervision for developing/small countries, including the principles of corporate governance/ethics adapted to countries with a universal banking system and regulation of high-risk financial instruments.

 

The National Bank of Georgia became a signatory of the Multilateral Memorandum of Understanding of the International Organization of Securities Commissions (IOSCO) and an ordinary member of IOSCO in December 2021. Ordinary membership of IOSCO increases investor confidence and interest in the Georgian securities market, while also enhancing the reputation of the National Bank of Georgia as a securities market regulator.