Commission Chairman to head world organisation

News Release 22 May 2004

New Zealand Securities Commission Chairman to head world organisation

The Chairman of the New Zealand Securities Commission, Jane Diplock AO, has been elected Chairman of the Executive Committee of IOSCO (the International Organisation of Securities Commissions). Jane is the first woman to be appointed to this position.

“I am delighted to contribute to the work of IOSCO by this appointment,” Jane Diplock said. “It is a very great honour for New Zealand to be recognised at such an important level. I see it as an affirmation of the development of New Zealand’s own regulatory framework in line with international best practices. It gives us the opportunity to play a central role in the ongoing work of IOSCO.”

IOSCO has a membership of over 100 jurisdictions around the world. Since its creation in 1983, it has been actively engaged in work on sound principles and practices for the regulation of securities markets. It is recognised as the international standard setter for securities regulation.

The Executive Committee is the governing body of IOSCO responsible for achieving the objectives of the organisation. New Zealand was elected a member of the Executive Committee two years ago. New Zealand is also active in the Asia Pacific Regional Committee of IOSCO and hosted a meeting of this Committee in Wellington earlier this year.

Jane Diplock’s appointment was made at the 29th annual meeting of IOSCO held in Amman, Jordan on Friday 21 May New Zealand time. She takes over from Fernando Teixeira dos Santos of Portugal.

Jane will continue to chair the New Zealand Commission during her two year term as Chairman of the IOSCO Executive Committee. The day to day work of IOSCO is undertaken by a secretariat based in Madrid.

ENDS

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