OTEH RE-ELECTED IOSCO'S CHAIRPERSON

DIRECTOR-GENERAL Securities and Exchange Commission, SEC, Ms. Arunma Oteh, has been re-elected Chairperson of the African/Middle East Regional Committee, AMERC, of the International Organisation of Securities Commissions, IOSCO.

According to a statement by SEC, she was unanimously returned un-opposed at the annual IOSCO conference in Beijing, China.

Also returned unopposed, according to the statement by Yakubu Olaleye, Head Media, SEC, was the Vice Chairman of the regional committee, Hassan Boulaknadal, who is the Chief Executive Officer of the Moroccan capital market regulatory authority.

In view of the new strategic direction of the IOSCO, he said Oteh and Boulaknadal automatically became members of IOSCO Transitional Board, the highest policy making body of the organization.

He said, 'Having served as Chairperson of the regional committee for a two year term, Oteh had expressed the intention to re-contest the position for another term given the expiration of the initial term. According to some of the delegates who participated at the election, her unanimous return by the 22 member countries of the regional committee was a direct consequence of the visionary leadership which she has provided the committee since becoming chairperson in 2010.

'Specifically, the AMERC chairperson was said to have remained committed to the actualization of an enduring vision for the region in concert with the goals and objectives of IOSCO. Her efforts have also resulted in improved capacity, communication, cooperation and visibility for the region within the IOSCO community.'

IOSCO was established in 1983 as  the standard setter for the securities industry worldwide and currently has over one hundred ordinary members.

The Beijing Conference was the 37th such conference in the annals of the organization.