AFMA CEO, David Lynch, has been elected Chair of the International Council of Securities Associations (ICSA), the first Australian representative to hold the position.
ICSA is the primary global securities industry body, encompassing 19 securities industry associations from Asia, Europe and North America. It provides a forum to raise awareness of regional developments, exchange views, and collaborate on efforts to improve global capital markets. ICSA advocates appropriate regulatory policies, regulations and initiatives across jurisdictions to promote efficient and well-functioning securities markets and the flow of cross-border capital (www.icsa.global). ICSA facilitates regular interaction with international agencies including International Organisation of Securities Commissions (IOSCO), the Basel Committee and the Financial Stability Board.
Mr Lynch said that ICSA’s work was very relevant to Australian firms. “ICSA’s focus areas include a range of matters directly relevant to AFMA members, such as harmful fragmentation of financial markets, conduct regulation, interest rate benchmark reform and sustainable finance,” he said. “Australian regulators continue to work in concert with their international peers through the global standard setting bodies, and ICSA-driven dialogue is important in informing that work.”
AFMA’s leadership role at ICSA will complement its long established and effective working relationships with regional and global counterparts including the International Swaps and Derivatives Association (ISDA) and the International Capital Market Association (ICDA), whose work on standard documentation and market protocols significantly influence practice in Australia.
Mr Lynch succeeds Pierre de Lauzun from L'Association française des marchés financiers (AMAFI), the French securities industry body.