Committee on Derivatives (Committee 7)

Committee 7 focuses on issues related to all types of derivatives products and markets. Committee 7’s membership consists of experts on exchange-traded and over-the-counter derivatives, the G20 reforms on OTC derivatives, and commodity derivatives.

Committee 7 was formed in 2017 by merging the former IOSCO Committee on Commodity Derivatives and the IOSCO OTC Derivatives Task Force (OTCDTF). To date, Committee 7 has carried out G20 mandated projects on "Principles for Oil Price Reporting Agencies" and "Principles for the Regulation and Supervision of Commodity Derivatives Markets" and other important IOSCO projects, including "Efficient Resiliency", "Third Party Service Providers", and "Storage and Delivery Infrastructures".

Members of Committee 7


Mr. Paul Willis, Technical Specialist, Financial Conduct Authority, United Kingdom


Mr. Kevin Fine, Director, Derivatives, Ontario Securities Commission, Ontario

Members (32)

Alberta Securities Commission, Alberta
(Paula Kaner, Manager, Market Oversight)

Comisión Nacional de Valores, Argentina
(Mr. Carlos Hourbeigt, Commissioner / Ms. Victoria Donato, Professional – Intermediaries and Markets Division)

Australian Securities and Investments Commission, Australia
(Mr. Alex Orgaz-Barnier, Senior Manager, Financial Market Infrastructure)

Comissão de Valores Mobiliários, Brazil
(Mr. Sergio Ricardo Silva Schreiner, Examiner, Trading and Markets Supervision Office)

China Securities Regulatory Commission, China
(Mr. Shaoming Yan, Deputy Director General, Department of Futures Supervision / Ms. Weifei Wu, Deputy Director, Department of Futures Supervision)

Dubai Financial Services Authority, DIFC, Dubai
(Mr. Wael El Nagar, Senior Manager, DFSA Markets division / Mr. Eric Salomons, Director, Head of DFSA Markets division)

Autorité des marchés financiers, France
(Mr. Patrice Aguesse, Head of Markets Regulation Policy Division / Claire Guillaumot)

Bundesanstalt für Finanzdienstleistungsaufsicht, Germany
(Ms. Stephanie Kirchmeier)

Securities and Futures Commission, Hong Kong
(Mr. George Tam, Associate Director of the Supervision of Markets Division (SOM Division) / Mr. Stanley Ng, Senior Manager of the SOM Division)

Securities and Exchange Board of India, India
(Mr. S. K. Mohanty, Executive Director / Vikas Sukhwal, Division of New Products and Market Policy, Commodity Derivatives Market Regulation Department)

Commissione Nazionale per le Società e la Borsa, Italy
(Ms. Irene Tagliamonte, Senior Officer, International Relations Office / Ms. Isadora Tarola, Head of Market Infrastructure Surveillance Office / Mr. Luca Amadei, Senior Officer, Market Division, Post-Trading Office)

Financial Services Agency, Japan
(Ms. Momoko Tamaki, Deputy Director for International Financial Markets)

Ministry of Agriculture, Forestry and Fisheries, Japan
(Mr. Shirara Shiokawa, Director General for Food Industry Affairs Bureau / Mr. Hideyuki SAKAMOTO, Deputy Director,Commodity Trade Division)

Ministry of Economy, Trade and Industry, Japan
(Ms. Motoko OGAWA, Deputy Director for Market Surveillance)

Financial Services Commission/Financial Supervisory Service, Korea, Republic of
(Mr. Kim Cheolhyun, Senior Manager, Derivatives Market Team, Capital Market Supervision Department / Ms. Lee Dongeun, Associate, Derivatives Market Team, Capital Market Supervision Department)

Comisión Nacional Bancaria y de Valores, Mexico
(Mr. Luis Leyva, General Director, Regulation Development)

The Dutch Authority for the Financial Markets, Netherlands, The
(Mr. Bas Verschoor / Mr. Joost Wensveen, Manager Capital Markets, Strategy, Policy & International Affairs Division)

Finanstilsynet (The Financial Supervisory Authority of Norway), Norway
(Mr. Knut Godager, Special Advisor)

Ontario Securities Commission, Ontario
(Ms. Cindy Wan, Interim Lead, International Affairs / Mr. Kevin Fine, Director, Derivatives)

Polish Financial Supervision Authority, Poland
(Dr. Robert Rybski, Head of Trading Platforms Unit (Financial Market Development Department))

Autorité des marchés financiers, Quebec
(Ms. Lise Estelle Brault, Senior Director, Derivatives Oversight)

The Bank of Russia, Russia
(Mr. Pavel Ivanov, Head of Commodities Market Unit at Securities Market and Commodity Market Department / Tatiana Kuzmina, Economic Adviser, Financial market strategy department)

Capital Market Authority, Saudi Arabia
(Mr. Mohammed Aldossary, Officer of Foreign Investments)

Monetary Authority of Singapore, Singapore
(Ms. Merion Anggerek, Director & Head (Capital Markets Policy Division) (Markets Policy & Infrastructure Department) / Ms. Yolanda Cosntantine, Director & Specialist Leader (Derivatives Regulation) (Markets Policy & Infrastructure Department))

Financial Sector Conduct Authority, South Africa
(Mr. Udesh Naicker, Head of Department - Supervision: Derivative Markets)

Comisión Nacional del Mercado de Valores, Spain
(Mr. Jose Luis Pablos)

Swiss Financial Market Supervisory Authority, Switzerland
(Dr. Hans-Claas Bernhardt, Manager, Legal Market Infrastructures)

Capital Markets Board, Turkey
(Ms. Tulin Demir Akgoz / Mr. Ulas Guney Bilgin, Senior Expert)

Financial Conduct Authority, United Kingdom
(Mr. Paul Willis, Technical Specialist / Anne Wrobel, Technical Specialist)

Commodity Futures Trading Commission, United States of America
(Mr. Mauricio Melara, Associate Director of International Affairs)

Securities and Exchange Commission, United States of America
(Ms. Carol McGee, Assistant Director, Office of Derivatives Policy)

National Futures Association, United States of America
(Ms. Karen K. Wuertz, Senior Vice-President, Strategic Planning and Communications)