The Brazilian Financial and Capital Markets Association (ANBIMA) took part in the 50th Annual Conference of the International Organization of Securities Commissions (IOSCO), held from May 12 to 15 in Doha, Qatar. The event brought together regulators and industry representatives from various countries to discuss the most pressing challenges facing global capital markets.

Our CEO José Carlos Doherty represented the Association in discussions held by the Affiliate Members Consultative Committee (AMCC) of which ANBIMA has been a member since 2005. During the May 12 session, Doherty shared ANBIMA’s contributions to the mapping of emerging risks and participated in panels on tokenization and artificial intelligence—core topics on IOSCO’s innovation agenda.

ANBIMA also presented the findings of a joint study with the Investment Company Institute (ICI), the U.S. fund association, focusing on the relationship between asset managers and index providers. The analysis, conducted over the past 18 months, identified key points that could lead to an update of IOSCO’s Principles for Financial Benchmarks. “This project reflects our experience both as a self-regulatory organization for investment funds and as an index provider in Brazil,” Doherty noted. The final report was submitted to IOSCO’s board for review.

“Our engagement with IOSCO is mutually beneficial: we contribute insights from our local market to the international debates and, in turn, bring back best practices that help strengthen our work with members in Brazil. It’s an ongoing effort that enhances the leadership of our market,” he said.

On May 13, IOSCO presented updates on topics such as the use of technology to boost retail investor participation, monitoring of recommendations on digital and crypto assets, and the ISSB’s sustainability and climate-related disclosure standards. Guilherme Benaderet, ANBIMA’s head of market supervision, followed these discussions, which included participants from regulatory and self-regulatory bodies around the world.

Among the side events, a breakfast on May 14 hosted by the U.S. (ICI), European (Efama), and U.K. (The IA) fund associations stood out. The gathering brought together regulators and market authorities to discuss industry trends. ANBIMA was represented by Tatiana Itikawa, head of institutional representation.

Also on May 14, IOSCO’s general assembly was held, where the organization’s work plan priorities were defined. The conference concluded on May 15 with a public session focused on topics such as the challenges of retail distribution and financing for small and medium-sized enterprises.

During the general assembly, IOSCO also announced new signatories to the Enhanced Multilateral Memorandum of Understanding (EMMoU), including the Capital Markets Authority of Kenya (CMA Kenya), the Securities Commission Malaysia, and Spain’s Comisión Nacional del Mercado de Valores (CNMV). Both the MMoU and EMMoU are globally recognized frameworks for international cooperation and information sharing among regulators.

The next IOSCO Annual Conference will be held in May 2026, in Egypt.