Becoming a Member
IOSCO has three categories of membership that reflect the different approaches to securities markets regulation, while also ensuring that those with an interest in the regulation of securities markets are also involved in the debate on securities market issues.
The three categories are:
A national securities commission or a similar governmental body with significant authority over securities or derivatives markets is eligible for ordinary membership of IOSCO provided it is a signatory to the IOSCO Multilateral Memorandum of Understanding (MMoU). Where there is no such national authority, provincial authorities with authority over securities or derivatives markets are eligible for ordinary membership provided they are MMoU signatories. If there is no governmental regulatory body in a country, a self-regulatory body, such as a stock exchange, from that country is eligible for ordinary membership of IOSCO.
Each ordinary member of IOSCO is a member of the Presidents Committee and has one vote at meetings of that Committee and any other Committees to which it belongs. The Presidents Committee meets yearly at the Annual Conference.
In the case of a country where the subdivisions have exclusive jurisdiction over securities, the regulatory bodies of the subdivisions of that country that are ordinary members shall have a maximum of three votes for all the subdivisions together in elections in meetings of the Presidents Committee, IOSCO Board, Growth and Emerging Markets Committee, Regional Committees, and in meetings of any other committee or on any other occasion where elections are held.
The following are eligible for associate membership of IOSCO:
- supranational governmental regulators;
- subnational governmental regulators where there is a national governmental regulator;
- intergovernmental international organizations and other international standard-setting bodies;
- other governmental bodies with an appropriate interest in securities regulation; and
- national governmental regulators who are not MMoU signatories and who are not ordinary members.
An association that consists of the public regulatory bodies is also eligible for associate membership of IOSCO.
Each associate member of IOSCO is a member of the Presidents Committee. Associate members are not entitled to vote at the Presidents Committee meeting.
The following bodies are eligible for affiliate membership of IOSCO:
- self regulatory organizations (SROs);
- securities exchanges;
- financial market infrastructures (including clearing and settlement agencies);
- international bodies other than governmental organizations with an appropriate interest in securities regulation;
- investor protection funds and compensation funds; and
- any other body with an appropriate interest in securities regulation that the IOSCO Board may decide for the purpose of furthering the objectives of IOSCO.
Affiliate members may attend the Presidents Committee meeting to hear detailed reports on the work and key developments of IOSCO. Affiliate members are not entitled to vote at the Presidents Committee meeting.
To become a member of IOSCO, a body must apply in writing to the Secretary General. The application must be accompanied by the prescribed membership contribution. Membership contributions are based upon a differential fee structure, which can be consulted upon with the IOSCO General Secretariat.
If the application is for ordinary membership, it must include:
- a brief description of securities regulation in the applicant's country, including the bodies which exercise regulatory functions with regard to securities in that country;
- a translation of the primary securities legislation of that country in one of the official languages of IOSCO;
- a declaration, signed by the president of the applicant, that the body has reviewed and accepts the present By-Laws and Resolutions adopted by the Presidents Committee;
- a completed High Level Questionnaire; and
- an application to the MMoU.
If the application is for associate membership, it must include a description of the applicant, its mission and (if applicable) a completed High Level Questionnaire and Action Plan for signing IOSCO MMoU.
If the application is for affiliate membership, it must:
- include a description of the applicant and its mission; and
- be endorsed in writing by the ordinary member, or ordinary members, of the applicant's country (if applicable).
A body will become a member if its application is accepted by the IOSCO Board.
For more information and submission of membership applications, please email the IOSCO General Secretariat at email@example.com.