The Secretary General of IOSCO, the global standard-setter for securities regulation, addressed the key transformations shaping market dynamics and access to capital.
On January 21, the LawAhead Center on the Legal Profession at IE Law School held a new session featuring Rodrigo Buenaventura, Secretary General of the International Organization of Securities Commissions (IOSCO). The event, hosted at IE Tower, brought together partners and senior executives from major law firms, corporate legal departments, and the Center’s sponsors.
During his address, Buenaventura shared his perspective on the major structural shifts currently reshaping global financial markets. He highlighted several notable trends observed over the past decade, including a decline in the number of initial public offerings, a sustained increase in public debt, and significant growth in private financing, particularly dynamic in certain regions. These developments, he noted, are redefining how markets operate and how companies access capital.
The IOSCO Secretary General underscored the organization’s role as the foremost global forum for securities market regulators. With more than 200 members across over 130 jurisdictions, IOSCO oversees the vast majority of global financial markets. Widely recognized as an international benchmark in financial regulation, IOSCO promotes the adoption of standards aimed at fostering fair, efficient, and transparent markets.
IOSCO’s work is structured around three core objectives: investor protection, the mitigation of systemic risk, and the promotion of stable and resilient financial markets. These principles underpin the development of international regulatory standards endorsed by the G20 and the Financial Stability Board.
The session also addressed the critical importance of international cooperation among supervisory authorities, as well as the development and implementation of global standards that enable effective oversight in an increasingly interconnected financial ecosystem. In this context, Buenaventura referred to several current regulatory challenges, including the impact of financial innovation and digital assets, as well as ongoing initiatives within the European Union to move toward more centralized and coordinated market supervision.
About the LawAhead Center on the Legal Profession
The LawAhead Center on the Legal Profession at IE Law School promotes reflection on the challenges and opportunities facing the legal sector in Spain and globally. The Center brings together leading business law firms—CMS Albiñana, Cuatrecasas, Gómez-Acebo & Pombo, Garrigues, Pérez-Llorca, Roca Junyent, Sagardoy Abogados, and Uría Menéndez— alongside major corporations such as AENA, CaixaBank, Mapfre, Microsoft, and Telefónica.