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August 2, 2006
TO: INTERNATIONAL MEMBERS No. 18-06
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 23-06
RE: IOSCO PUBLISHES RESULTS OF SURVEY ON FUNDS IN 42 EMERGING MARKETS
The Emerging Markets Committee of the International Organization of Securities
Commissions (IOSCO) has published a report on collective investment schemes (CIS) in emerging
markets. The report, available at http://www.iosco.org/library/pubdocs/pdf/IOSCOPD222.pdf, describes
the results of an IOSCO survey examining the size, structure and functioning of the CIS industry and
the related regulatory framework in 42 emerging markets around the world. The objective of the survey
was to assess the growth and development of the mutual fund industry in emerging markets, with the
goal of providing IOSCO with a basis for planning future areas of study.
The report may be of interest to Institute members as, by IOSCO’s estimation, it represents the
broadest survey ever carried out on this topic. It includes information on the CIS industry in the
following countries:
Algeria Honduras Mauritius Slovenia
Bahamas Hungary Montenegro South Africa
Bahrain India Morocco Taiwan (Chinese Taipei)
Barbados Indonesia Nigeria Thailand
Brazil Israel Oman Tunisia
Bulgaria Kenya Pakistan Turkey
China Korea (South) Panama Uganda
Colombia Lithuania Peru Venezuela
Costa Rica Macedonia Poland Vietnam
Czech Republic Malaysia Romania
Egypt Malta Slovakia
Robert C. Grohowski
Senior Counsel - International Affairs