IOSCO Doha meet concludes; calls for efforts to establish principles relevant on a global scale in digital age

The 50th annual meeting of the International Organisation of Securities Commissions (IOSCO), hosted by Qatar Financial Markets Authority (QFMA), yesterday concluded with member states and capital market experts calling for efforts to establish principles that relevant on a global scale and prepared for the future, especially in the digital age.Suggesting that IOSCO must evolve into the leader in building trust within digital capital markets, QFMA chief executive officer Dr Tamy bin Ahmad al-Binali said: "We need to establish principles that are not only relevant on a global scale but also prepared for the future, with a strong focus on protecting investors in every jurisdiction, regardless of size. Let this meeting mark an important moment where we commit to guiding the digital age with courage, clarity, and a united determination.”Highlighting that in 2023, global trading volumes in digital assets reached record levels, with some months exceeding $10tn; he said this trend highlights the rapid changes occurring in the market.At the same time, many financial institutions have reported using AI (artificial intelligence) tools for various market functions, he said, adding regulators are also increasingly adopting AI to improve surveillance, compliance oversight, and data-driven supervision."These developments are not future trends; they are current realities,” al-Binali said.The three-day meeting discussed key challenges and opportunities in regulating and developing financial markets, and ways to enhance transparency and financial stability regionally and internationally."Throughout financial crises, systemic shocks, and waves of innovation, IOSCO has remained committed to its mission: to protect investors, uphold market integrity, and safeguard financial stability. Now, as we reach the frontier of artificial intelligence, crypto-assets, and real-time supervision, we are once again called to lead rather than simply react,” al-Binali said.IOSCO has taken significant action by issuing global guidance on the regulation of crypto-assets, decentralised finance, and the responsible use of AI in capital markets, according to him."However, the work ahead involves more than just creating rules. It is important to focus on implementation and capacity building. Most importantly, we must ensure that investor protection remains our top priority throughout this rapid transformation,” he said.From Qatar’s perspective, the digital transformation is a strategic initiative that is closely aligned with National Vision 2030, he said, adding this vision places digital innovation at the core of a knowledge-based and globally connected economy.The third financial sector strategy supports this vision by highlighting the importance of fintech, digital resilience, and agile regulation.In line with these national strategies, he said the QFMA’s 2023–27 strategic plan focuses on several key areas, including a fintech sandbox, tokenisation frameworks, smart contracts, robo-advisory services, and advanced regulatory technology (Regtech) and supervisory technology (Suptech) systems."Additionally, we collaborate with regional and global partners to ensure that our frameworks remain adaptive, compatible, and driven by innovation. This approach reflects Qatar’s commitment to leading the way in establishing credible and future-ready digital regulations,” he said.