India, China, and Brazil join IOSCO

February 20th, 2009 - 4:45 pm ICT by ANI  

Beijing, Feb.20 (ANI): India, China, and Brazil have become members of the inner circle of the International Organisation of Securities Commissions (IOSCO) to formally recognise the influence of their growing economies.
The IOSCO have members representing more than 90 percent of the world’’s securities markets with presence in over 100 countries.
The economic slowdown across the world has forced the international financial organization to change the composition of its membership.
“The changing landscape of the international financial system in this time of crisis demands that organizations, such as ours, reflect such changes in the composition of its membership,” The China Daily quoted, chairman of the technical committee of IOSCO, as saying.
Global economic leaders have agreed to draw regulatory lessons from the financial crisis through the Group of Twenty (G20) countries so that nations with rapidly developing economies like India, China and Brazil also get an opportunity to voice their interests over international economic topics.
The IOSCOs technical committee has just 15 countries such as United States, Japan, Germany, France and Britain. (ANI)

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