The board of IOSCO (the International Organization of Securities Commissions) has appointed Paul P Andrews as its new Secretary General. Currently the vice president and managing director of international at the Financial Industry Regulatory Authority (FINRA), he will take up his IOSCO position for a three-year renewable term in March next year.
He steps into the shoes of David Wright, who joined IOSCO in March 2012 after 34 years of financial and regulatory policy work at the European Commission.
IOSCO notes that at FINRA Andrews has sought to establish strong working relationships with regulatory bodies outside the USA to improve international cooperation and coordination. He represents FINRA at IOSCO, where he sits on the Regulatory Advisory Committee of IOSCO’s Affiliate Members Consultative Committee (AMCC) and chairs the AMCC Task Force on Risk.
He also serves as the chair of the International Forum for Investor Education, a global organisation established to strengthen resources and standards for investor education within and across jurisdictions
Andrews said he intends to work with the board on three key themes: (1) strengthening IOSCO’s position as the international capital markets standards setter; (2) forging greater co-operation among regulators and other standard-setting bodies on supervisory and enforcement issues while continuing to assist emerging markets with technical assistance and capacity building; and (3) engaging regulators world-wide to exchange information, discuss issues and approaches to common regulatory challenges, and seek to create global solutions where possible.”
Before joining FINRA, he spent eight years at the U.S. Securities and Exchange Commission (SEC). During that time, he worked in the Division of Market Regulation and the Office of the General Counsel.