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International Council Of Securities Associations Releases 2004 Annual Meeting Brief

Date 14/05/2004

The International Council of Securities Associations (ICSA) released its 2004 communiqué at its annual meeting in Stockholm, Sweden. The communiqué endorses actions affecting capital markets and the securities industry, with the objective of aiding and encouraging the sound growth of international securities markets.

In the document, ICSA first, endorses Canada's proposed Uniform Securities Transfer Act (USTA); second, voices support for the work of the International Alliance for Investor Education (IAIE); and, third, encourages regulators and self-regulators to adopt structured consultation practices in line with the principles and best practices contained in ICSA's Statement on Regulatory and Self-Regulatory Consultation Practices. At the meeting, members also discussed how to deter the use of corporate, trust, and other non-individual accounts to conceal insider trading, market manipulation, money laundering, and other improper activities.

ICSA is composed of 16 international members who represent and/or regulate the industry in 12 jurisdictions. For a copy of the communiqué, contact jchristian@sia.com. For more information about ICSA, go to http://www.icsa.bz/.