Egypt Financial Regulatory Authority joins IOSCO Board meetings in Madrid and urges supervisors to invest in skills, RegTech and AI

The Egypt Financial Regulatory Authority reported that its chair, Mohamed Farid, participated in International Organization of Securities Commissions (IOSCO) Board meetings in Madrid on 27–28 October in his capacity as IOSCO Vice Chair and Chair of the Growth and Emerging Markets Committee. The agenda included tracking implementation of IOSCO’s action plan to strengthen global financial stability, examining regulatory developments linked to financial technology, sustainable finance and climate finance, and discussing international cooperation on sharing information and expertise among regulators. Farid emphasised capacity-building as a foundation for efficient capital markets, called for supervisors to modernise their technology and make greater use of RegTech and SupTech for monitoring and data-driven decision-making, and argued that artificial intelligence should be adopted as a supervisory tool for analysing large datasets, detecting unusual patterns and anticipating risks.