Global: New market-abuse crackdown to blanket globe

The International Organization of Securities Commission has reportedly proposed new global guidelines to crackdown on market-abuse in efforts to assure sanctions curb anticompetitive behavior regardless of a nation’s individual rules.

Concerns that some nations do not have sufficient policies in place to crack down on market-abuse, the global regulation group is now working on worldwide policies that would assure fines or prison time for those found to have abused markets regardless of where the abuse took place.

The new policy plans were announced by the organization’s secretary general David Wright.

In an interview, Wright said there were “far too many examples over the last 10 years of totally unacceptable behavior in financial markets.”

The trend must be reversed, he said.

The organization, known as Iosco, said it is looking to prevent the practice of market abusers performing the anticompetitive behavior in nations where they know sanctions will be light.

Regulators from more than 100 nations were represented in coordination meetings to deter global market manipulation, say reports.

Full Content: Bloomberg

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