Mexico : The IOSCO Objectives and Principles of Securities

International Monetary Fund ; World Bank

World Bank, Washington, DC

关键词: ACCESS TO INFORMATION;    ACCOUNTING;    ACCOUNTING FRAMEWORK;    ACCOUNTING STANDARDS;    ALTERNATIVE TRADING SYSTEMS;   

RP-ID  :  83134

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

As the supervisor of the securitiesmarkets in Mexico, the National Banking and SecuritiesCommission (Comision Nacional Bancaria y de Valores, CNBV)has developed a robust supervisory framework that exhibitshigh levels of implementation of the InternationalOrganization of Securities Commissions Objectives andPrinciples of Securities Regulation (IOSCO Principles) inmany areas. The assessment was conducted during theInternational Monetary Fund (IMF) and World Bank FinancialSector Assessment Program (FSAP) mission to Mexico duringthe period September 7 to September 21, 2011. The assessmentwas carried out using the 2003 IOSCO methodology forassessing implementation of the IOSCO Principles. The mostsignificant issues regarding full implementation of thePrinciples fall under the regulator principles. These issuesflow from two sources. First, there is no specific statutegoverning derivatives (whether exchange traded orover-the-counter (OTC)), nor any other express legislativeprovisions that govern the regulation of that growingmarket. Second, there are significant weaknesses in theprotections afforded members of the Board of Governors andstaff and with the resources of the commission that lead toconcerns about its independence and ability to carry out itsmandate fully. This report gives summary of discussions onCNBV acceptance to allow the informal assessment of thestatus of implementation of the newly added Principles,using the guidance provided in the draft revised assessmentmethodology as issued in May 2011.