The International Organisation of Securities Commissions (IOSCO) is to issue global rule books and a toolbox to promote regulatory consistency across jurisdictions.

The body can play a leadership role by developing authoritative rule books to get regulators and policymakers working towards the same objectives, according to IOSCO Chairman Greg Medcraft, who is also Chairman of the Australian Securities and Investments Commission.

At its recent board meeting in Sydney IOSCO also agreed to develop a toolbox of current measures, to knit together domestic regulatory regimes when national rules differ, he says.

“By focusing on equivalent regulatory outcomes, we can avoid fragmenting our markets at a time when we are in desperate need for our markets to be providing capital to support economic recovery,” Mr Medcraft told a seminar in Dublin.