Chaim Coutts attended the 34th annual conference of the International Organisation of Securities Commissions (IOSCO) in Tel Aviv as a guest of the British Embassy. Discussions centred around the current economic climate as financial and securities commissioners were brought together on a global scale for a very successful event.
Prof. Stanley Fischer, governor of the Bank of Israel and past chairman of the IMF was prominent throughout the conference. Lord Turner, Chairman of the FSA, presented the opening remarks on the final day. He discussed responding to the economic crisis and priorities for the reform of global regulation and Ms Mary Schapiro, Chairman of the U.S. Securites and Exchange Commission spoke by video link from the White House, citing her need to be in Washington to consult with President Obama as a ‘justifiable excuse’ for not attending the conference in person.
A highlight of the conference was a speech by Shimon Peres, President of the State of Israel, against the backdrop of the walls of the Old City of Jerusalem. He spoke powerfully about having optimism in the current climate or, in his words “The world is changing: We are changing. … I don’t understand why people are pessimistic … when there is so much room for optimism.”
On that positive note we look forward to a successful year and to next year’s IOSCO conference in Montreal.