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Fair access to sound capital markets is a fundamental building block of investment. FSVC provides technical assistance to capital market regulators aimed at strengthening the legislative and regulatory basis for market surveillance and enforcement, listing requirements, trading procedures, depository requirements, clearing and settlement mechanisms, and broker-dealer operations. FSVC also collaborates with organizations and professional associations to reduce the risks faced by market participants and to improve operations for the registration, clearing, and settlement of trades.
Countries Served:
Types of Activities:
Our Accomplishments:
Countries Served:
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FSVC Capital Markets Experience Key Indicators: 1999-2012 |
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| Projects Completed | 300 |
| Number of Countries Served | 29 |
| Individuals Trained | 5,581 |
| Pro Bono Hours Delivered | 33,736 |
Afghanistan, Albania, Bosnia, Bulgaria, Croatia, Czech Republic, Egypt, Georgia, Indonesia, Iraq, Jordan, Libya, Lithuania, Macedonia, Malawi, Morocco, Philippines, Poland, Romania, Russia, Slovakia, Slovenia, Thailand, Uganda, Ukraine, United Arab Emirates, and Yemen.
Types of Activities:
- Commentaries on pending laws and regulations;
- Country-specific and regional seminars to strengthen dialogue on bringing capital markets operations in line with
international standards;
- In-country expert consultations on developing infrastructure for new market instruments and guidance on
supporting alternative investments;
- Technical assistance on capital adequacy and margin trading rules, including electronic monitoring;
- In-country technical assistance to improve the registration, clearing, and settlement of trades;
- Training for regulators and companies on improved corporate governance; and
- Study tours to the United States and other countries on a variety of topics for securities regulators and exchanges.
- Country-specific and regional seminars to strengthen dialogue on bringing capital markets operations in line with
international standards;
- In-country expert consultations on developing infrastructure for new market instruments and guidance on
supporting alternative investments;
- Technical assistance on capital adequacy and margin trading rules, including electronic monitoring;
- In-country technical assistance to improve the registration, clearing, and settlement of trades;
- Training for regulators and companies on improved corporate governance; and
- Study tours to the United States and other countries on a variety of topics for securities regulators and exchanges.
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| NASDAQ welcomes the Egyptian Capital Markets Authority during a study tour arranged by FSVC |
Jordan – Amman Stock Exchange (ASE), Jordanian Securities Commission (JSC), and Securities Depository Center (SDC) (2009-2010):
FSVC conducted consultations on the necessity of defining market surveillance and enforcement authority in the JSC, the importance of risk-based and standardized inspections, and the unmet need for products such as exchange-traded funds (ETF) to extend investment opportunities to individuals. As a result of this work, the JSC developed an on-site examination checklist and risk-rating process to improve its inspections, and the ASE created a roadmap for ETF implementation in 2011.
Albania – Financial Supervisory Authority (2006-2011):
FSVC provided revisions to proposed legal frameworks governing Financial Supervisory Authority (FSA) regulation of investment funds, mergers and acquisitions, and private pension funds. Volunteer experts also provided legal and regulatory guidance for establishing a risk management culture within the FSA. The FSA now has the authority and technical capacity to supervise Albania’s nascent capital markets regime.
Egypt – Egyptian Investor Protection Fund (2009-2010):
FSVC facilitated exchanges of personnel and consultations between the Egyptian Investor Protection Fund (EIPF) and the U.S. Securities Investor Protection Corporation (SIPC) that resulted in the two organizations signing a formal Memorandum of Understanding (MOU). The MOU describes how both organizations will cooperate to ensure investors receive timely satisfaction in the event of cross-border investor claims and/or insolvencies of member firms. It also details how their ongoing relationship will result in knowledge transfer, especially to the less developed Egyptian market, learning from earlier mistakes made in the more developed U.S. market.
FSVC conducted consultations on the necessity of defining market surveillance and enforcement authority in the JSC, the importance of risk-based and standardized inspections, and the unmet need for products such as exchange-traded funds (ETF) to extend investment opportunities to individuals. As a result of this work, the JSC developed an on-site examination checklist and risk-rating process to improve its inspections, and the ASE created a roadmap for ETF implementation in 2011.
Albania – Financial Supervisory Authority (2006-2011):
FSVC provided revisions to proposed legal frameworks governing Financial Supervisory Authority (FSA) regulation of investment funds, mergers and acquisitions, and private pension funds. Volunteer experts also provided legal and regulatory guidance for establishing a risk management culture within the FSA. The FSA now has the authority and technical capacity to supervise Albania’s nascent capital markets regime.
Egypt – Egyptian Investor Protection Fund (2009-2010):
FSVC facilitated exchanges of personnel and consultations between the Egyptian Investor Protection Fund (EIPF) and the U.S. Securities Investor Protection Corporation (SIPC) that resulted in the two organizations signing a formal Memorandum of Understanding (MOU). The MOU describes how both organizations will cooperate to ensure investors receive timely satisfaction in the event of cross-border investor claims and/or insolvencies of member firms. It also details how their ongoing relationship will result in knowledge transfer, especially to the less developed Egyptian market, learning from earlier mistakes made in the more developed U.S. market.
