The Egypt Financial Regulatory Authority reported that its chair, Mohamed Farid, took part in an International Organization of Securities Commissions (IOSCO) Board meeting with Financial Stability Board (FSB) Chair Andrew Bailey, focusing on strengthening IOSCO–FSB cooperation and reviewing key reforms in financial markets aimed at supporting global financial stability. During the discussions, Farid argued that successive market developments since the 2008 global financial crisis have created a new environment that requires revisiting the global approach to crisis management and systemic risk oversight. He highlighted that traditional crisis-management models are no longer sufficient given innovative financial instruments and financing and investment technologies that have altered the nature of risks and accelerated their cross-sector and cross-border transmission. The meeting also addressed the need for more flexible and efficient regulatory and supervisory frameworks that can accommodate innovation while safeguarding financial system soundness and protecting market participants, and concluded by underscoring continued coordination between IOSCO and the FSB on policies to enhance global financial system resilience.
Egypt Financial Regulatory Authority 2025-10-29
Egypt Financial Regulatory Authority participates in International Organization of Securities Commissions board meeting with Financial Stability Board chair on deeper cooperation and systemic risk reform
Egypt Financial Regulatory Authority Chair Mohamed Farid joined an IOSCO Board meeting with FSB Chair Andrew Bailey to enhance cooperation and review financial market reforms for global stability. Farid stressed revisiting crisis management and systemic risk oversight due to evolving financial instruments and technologies. The meeting concluded with a call for flexible regulatory frameworks and continued IOSCO-FSB coordination to bolster financial system resilience.