Capital Markets Development

Capital Market - Overview
Key FSVC Indicators for Capital Markets from 1999 - 2014: 

     255        5,559     36,579           32
    Pro-Bono Hours

Fair access to sound capital markets is a fundamental building block of investment.  FSVC assists regulators in strengthening the legal and regulatory framework for market surveillance and enforcement, listing requirements, trading procedures, depository requirements, clearing and settlement mechanisms and broker-dealer operations.  FSVC also collaborates with self-regulatory organizations and professional associations to reduce the risks faced by market participants and to improve operations for the registration, clearing and settlement of trades. 

Areas of Expertise

Our Accomplishments

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 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, particularly for Egypt.

NASDAQ welcomes the Egyptian Capital Markets Authority during an FSVC study tour

Albania – Financial Supervisory Authority (2006-2011):
FSVC provided revisions to proposed legal frameworks governing the Financial Supervisory Authority (FSA)'s regulation of investment funds, mergers and acquisitions, and private pension funds.  FSVC 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. 

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.