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IRAN INITIATIVE ON CYBER SECURITY UP FOR DISCUSSION AT IOSCO

The Iranian financial market’s regulator says the International Organization of Securities Commissions (IOSCO) is examining Iran’s important initiative on cyber security.

Vice-Chairman for International & Foreign Investment Affairs at Securities and Exchange Organization of Iran, Bahador Bijani, told reporters on Sunday that “Less than a year and half since our membership at IOSCO, all members have admitted to Iran’s active presence in the Organization, thanks to the SEO’s active policy and effective membership in IOSCO and its committees.”

Upon return from the IOSCO “Growth and Emerging Markets Committee (GEMC) Meeting” and Annual Conference 2017 hosted by Colombo, Sri Lanka, Bijani said, “The SEO has put forth a novel plan to the GEMC meeting that once implemented will significantly promote global capital markets cyber security.” He went on to say that the initiative which was warmly welcomed by the members, marked the first plan the SEO officially proposed to the community since its membership in April. According to the official, the initiative mainly concentrates on the creation of an international cyber security committee to ensure all member states follow similar standards in this area.

With Iran’s securities markets bidding to get foreign investments, adhering to international standards becomes a must as it “enhances investor protection and promotes investor confidence in the integrity of Iran’s securities markets”, Bijani said.

“The transfer of technology and expertise, along with utilizing IOSCO’s training programs, offers an extraordinary opportunity to Iran’s capital markets,” Bijani added.

Iranian authorities are determined to connect Iran with global commerce and business. SEO’s acceptance as an associate member in the 33-year-old organization is part of this trend. It will ease cross-border trading and foreign investment in Iran’s capital markets.

IOSCO develops regulatory frameworks and standards, and helps its over 200 members implement them. The Madrid-based organization has a committee specializing in developing emerging markets to help them get up to speed with international standards.

Release Date: 10/10/2017


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