The International Organization of Securities Commissions (IOSCO) has published its 2026 Work Program, building on its 2025 agenda and reaffirming its focus on stronger, more resilient capital markets.
In the year ahead, IOSCO’s top priorities include financial resilience, investor protection, evolving public and private markets, technological transformation, and regulatory cooperation. IOSCO plans to finalize work on valuation principles for collective investment schemes, secondary market disclosures, and commodity derivatives. It will also address fragmentation in OTC derivatives reporting and examine issues such as market liquidity and extended trading hours. In parallel, it will support work on non-bank financial intermediation and operational resilience, including cyber risk.
On investor protection, IOSCO’s agenda includes a TechSprint with the UK Financial Conduct Authority’s AI Lab, alongside expanded monitoring of crypto-asset funds and private credit. IOSCO will advance its crypto roadmap, develop AI supervisory guidance, and promote Supervisory Technology (SupTech). It also plans to strengthen global cooperation through its Multilateral Memorandum of Understanding and expand capacity-building programs, including a new e-learning platform.
In an In Focus article from the 2025 Compendium, Jean-Paul Servais, Chair of IOSCO, argues that trust is the bedrock of well-functioning financial markets, and that strengthening it depends on effective oversight, sound culture, and robust governance.
“I believe that culture and corporate governance must remain central themes in the global effort to support resilient, fair, and competitive markets,” Servais writes. “Regulatory initiatives that focus on practical steps — such as oversight of culture, evaluation of AI governance, and reinforcement of board responsibilities — can make trust a measurable outcome, not just a rhetorical goal.” ▸ Read More
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