Committee on Regulation of Market Intermediaries (Committee 3)

Committee 3 seeks to promote investor protection and market efficiency through its recommendations on issues relating to market intermediaries. Recent work includes publication of suitability requirements for the distribution of complex financial products, final guidance for regulators on how to enhance their supervision of intermediaries holding client assets, and contributions to the FSB roadmap on reducing the reliance of financial intermediaries on the ratings of credit rating agencies.

Members of Committee 3


Ms. Claire Kütemeier, Head of Section Code of Conduct Supervision Department, Bundesanstalt für Finanzdienstleistungsaufsicht, Germany


Mr. Jorge Palacios, Vice-Chairman of Technical Supervision, Comisión Nacional Bancaria y de Valores, Mexico

Members (32)

Australian Securities and Investments Commission, Australia
(Mr. Greg Yanco, Senior Executive Leader of the Market and Participants Supervision Team)

Comissão de Valores Mobiliários, Brazil
(Mr. Marcos Galileu Lorena Dutra, Manager, Trading and Markets Supervision Office)

China Securities Regulatory Commission, China, People's Republic of
(Mr. Bingtao Li, Deputy Division Director, Intermediary Supervision Department)

Autorité des marchés financiers, France
(Mr. Wayne Smith, Special Advisor to the AMF Managing Director, Regulatory Policy and International Affairs Division)

Bundesanstalt für Finanzdienstleistungsaufsicht, Germany
(Ms. Claire Kütemeier, Head of Section Code of Conduct Supervision Department / Dr. Günter Birnbaum, Head of Department / Mr. Thomas Volk, Head of Section, International Banking Supervision)

Deutsche Bundesbank, Germany
(M. Gerald Dillenburg, Head of section, International banking, regulation 1)

Securities and Futures Commission, Hong Kong
(Ms. Joanne Li)

Magyar Nemzeti Bank (The Central Bank of Hungary), Hungary
(Dr. Krisztián Csáky, Head of Secretariat)

Securities and Exchange Board of India, India
(Mr. R. K. Padmanabhan, Executive Director)

Indonesia Financial Services Authority, Indonesia
(Mr. Khoirul Muttaqien, Director of Securities Transaction Supervision)

Commissione Nazionale per le Società e la Borsa, Italy
(Mr. Francesco Adria / Ms. Irene Tagliamonte, Senior Officer, International Relations Office)

Financial Services Agency, Japan
(Mr. Hidetaka Nishizawa, Deputy Director, Securities Business Division / Mr. Mitsunobu Nakajima)

Financial Services Commission/Financial Supervisory Service, Korea, Republic of
(Mr. SONG Hakyoon, Financial Investment Supervision Department)

Comisión Nacional Bancaria y de Valores, Mexico
(Mr. Jorge Palacios, Vice-Chairman of Technical Supervision)

Autorité Marocaine du Marché des Capitaux, Morocco
(Ms. Ghizlane Benomar, Head of Intermediaries and Custodians Unit / Mr. Badre Labiad, Senior Analyst Intermediaries & Custodians Unit)

The Netherlands Authority for the Financial Markets, Netherlands, The
(Ms. Peggy Bracco Gartner, Senior Supervision Officer)

Securities and Exchange Commission, Nigeria
(Mrs. Ojone J. Kabir, Senior Manager, International Relations)

Ontario Securities Commission, Ontario
(Ms. Marrianne Bridge)

Securities and Exchange Commission, Pakistan
(Ms. Musarat Jabeen)

Polish Financial Supervision Authority, Poland
(Mr. Przemyslaw Trubicki / Mr. Maciej Kurzajewski, Deputy Director, Financial Services, Licensing and Functional Supervision Department)

Autorité des marchés financiers, Quebec
(Mr. Eric Stevenson, Superintendant, Client Services and Distribution Oversight)

Financial Supervisory Authority (ASF), Romania
(Ms. Florentina Boboc, Head of the Licensing Division)

The Bank of Russia, Russia
(Mr. Alexey Orlov, Advisor - Financial Market Development Department)

Capital Market Authority, Saudi Arabia, Kingdom of
(Mr. RAED AL-HUMAID, Manager, Compliance and Financial Supervision Department)

Monetary Authority of Singapore, Singapore
(Mr. Kin Choong SEETHO, Deputy Director, Capital Markets Intermediaries Dpt. II / Ms. Merlyn Ee, Executive Director (Capital Markets Intermediaries) / Ms. NGO Hwee Leng, Deputy Director (Capital Markets Intermediaries))

Comisión Nacional del Mercado de Valores, Spain
(Mr. Luis Peigneux, Deputy Director, Supervision of Investment Firms / Ms. Sonia Martinez, Coordinator, Authorisation and registry of Investment Services firms)

Swiss Financial Market Supervisory Authority, Switzerland
(Mr. Felix Lukas Stotz, Legal & Policy Expert, Asset Management Division)

Capital Markets Board, Turkey
(Ms. Tuba Altun, Deputy Head of Strategy Development Department / Ms. Hilal Cilan, Expert- Intermediary Activities Department)

Financial Conduct Authority, United Kingdom
(Mr. Damien Shanahan, Manager, Wholesale Conduct Policy, Markets Policy & International Division)

Commodity Futures Trading Commission, United States of America
(Mr. Warren Gorlick, Associate Director, Office of International Affairs / Mr. Alex Khachaturian, Special Counsel, Office of International Affairs)

Securities and Exchange Commission, United States of America
(Mr. George Lavdas, Chief International Counsel, Division of Trading and Markets)

Financial Industry Regulatory Authority, United States of America
(Ms. Jeanne Balcom, Senior Director, FINRA International / Mr. Michael Solomon, Senior Vice President and Senior Regional Director)