The International Organization of Securities Commissions (IOSCO) has published its 2026 Work Program, setting out five strategic priorities for the year: strengthening financial resilience and market effectiveness, protecting investors, addressing the evolution of public and private markets, managing technological transformation, and promoting regulatory cooperation and effectiveness. Planned deliverables include finalising reviews of the IOSCO Principles for the Valuation of Collective Investment Schemes and the IOSCO Principles and Standards for Disclosures in Secondary Markets, and completing a targeted implementation review of the IOSCO Commodity Derivatives Principles. New initiatives span work on over-the-counter derivatives reporting fragmentation, analysis of how market microstructure and extended trading hours affect liquidity and equity venues, and contributions to Financial Stability Board work on non-bank data availability, use and quality and, as needed, follow-up work on leverage in non-bank financial intermediation. Operational resilience work for financial market infrastructures will continue through the CPMI-IOSCO Operational Resilience Group, including third-party risk management and cyber resilience. On investor protection, IOSCO plans to launch its first TechSprint with the UK Financial Conduct Authority’s AI Lab, examine novel products including crypto-asset funds, private credit vehicles and retail-facing derivatives, and continue engagement with online platform providers while promoting I-SCAN, its enhanced investor alerts portal. Private markets work includes exploring links between private equity activity and the audit sector, contributing to the FSB’s deep dive on private credit, and research on the functioning of public markets. On technology, IOSCO plans to finalise a formal methodology for crypto and digital assets assessments, initiate regular thematic reviews, develop a supervisory toolkit on artificial intelligence and firm guidance on AI disclosures and governance, and advance work on supervisory technology through member collaboration. Regulatory cooperation actions include capacity-building support for emerging markets, continued training and reviews for IOSCO Multilateral Memorandum of Understanding signatories and encouragement to upgrade to the Enhanced MMoU, and development of a dedicated e-learning platform under the NEXTGEN programme during 2026.

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