.jpg)
The International Organization of Securities Commissions (IOSCO) announced that Secretary General Paul Andrews will step down on 25 February 2021. Mr. Andrews, who joined IOSCO as Secretary General in March 2016, will return to Washington, D.C., where his family resides..
Under Mr. Andrews’ leadership, the Secretariat gave invaluable support and guidance for IOSCO’s sharpened focus on substantive market and policy issues such as asset management, crypto-assets, unintended market fragmentation and sustainable finance, thereby enhancing IOSCO´s relevance to both members and global securities markets. Simultaneously, during his tenure, IOSCO strengthened and expanded its capacity building activities while increasing the collaboration among IOSCO members on key policy issues..
Under Mr. Andrews´ leadership, the General Secretariat also provided critical support to the IOSCO Board in its endeavor to ensure that securities markets remained open and able to fund the real economy during the market turmoil caused by COVID-19..
Ashley Alder, IOSCO Chair and Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong, said: “Paul has led the Secretariat with distinction during a period of major change for IOSCO, during which its importance and profile as an influential international standard - setter has increased enormously. Throughout this time Paul has ensured that the Secretariat has provided the highest level of technical and logistical support necessary to match the Board’s determination that IOSCO plays a key role among the global standard setting bodies, particularly during a very challenging 2020.”.
Mr. Andrews said: “It has been a privilege for me to serve in this role for the past five years and be part of the many substantive reports we issued during this period like those on asset management, deference and sustainable finance. I have many people to thank for making this a truly enriching and memorable experience. During this time, IOSCO made significant strides in many areas which would not have been possible without the staff at the Secretariat, with their dedication and hard work, the key support of IOSCO’s host in Spain, the CNMV, and the strategic direction of the IOSCO Board to guide the Secretariat in its substantive and administrative work. I have benefited greatly from all three. .
While my departure marks the end of my tenure at IOSCO, I am sure that it will continue to achieve further successes because of its commitment to investor protection, market integrity and financial stability. I am fortunate to have served with an organization that has benefitted from the contribution of such dedicated members.”.
Until a successor is appointed, Mr. Andrews´ deputy, Tajinder Singh, will be acting Secretary General from the end of February.
