02 November 2004	Tuesday	18 Ramazan 1425

ISLAMABAD, Nov 1: The advisory board of the Emerging Markets Committee (EMC) of the International Organization of Securities Commissions (IOSCO) has approved the final report of the Working Group-3 (WG3) on "Cross-boarder activities of securities firms in emerging markets".

The report will be put up for adoption at the EMC meeting scheduled to be held in Cairo in December, stated an official announcement by the Securities and Exchange Commission of Pakistan here on Monday.

SECP Chairman Dr Tariq Hassan, who is also chairman of the WG3 and ex-officio member of the Standing Committee-3, had presented the report before the advisory board of the EMC during a meeting held in Montreal, Canada, last weak.

The report, which was approved during the meeting, tackles cross-boarder issues, encountered by the securities firms, at three levels; the international experience of developed jurisdictions, regulatory practices of cross-boarder activities in the EMC countries, and conclusions and recommendations for emerging markets in the area of cross-border activities.