DHAKA : North South University Center for Legal Research
(NSU CLR), in collaboration with the Department of Law, hosted a seminar titled
“Cross-Border Securities Regulation: IOSCO” on 10 September 2026. The seminar
brought together faculty members, researchers, students, and practitioners to
examine the institutional framework, functions, and contemporary challenges of
cross-border securities regulation, with particular focus on the role of the
International Organization of Securities Commissions (IOSCO).
The programme began with introductory remarks from Prof.
Md. Rizwanul Islam, Professor of Law and Dean, School of Humanities and Social
Sciences, North South University. In his remarks, Prof. Islam highlighted the
distinctive institutional character of IOSCO, noting that, unlike conventional
international organisations established through treaties among states, IOSCO
operates as an international association of securities regulators. He also
outlined some of its key purposes in promoting cooperation, coordination, and
effective regulation in securities markets across jurisdictions.
The keynote address was delivered by Md. Rajab Ali, Senior
Lecturer, Department of Law, North South University. His presentation provided
a comprehensive overview of IOSCO, including its organisational structure and
membership, with particular emphasis on the fact that its members are primarily
securities and market regulators rather than states themselves. He traced the
brief history and evolution of IOSCO and discussed its principal functions and
activities in facilitating international cooperation and regulatory
coordination in securities markets. The keynote further considered the
organisation’s achievements as well as its institutional and regulatory
deficiencies, before reflecting on possible ways forward in strengthening
cross-border securities regulation.
The discussant of the seminar, Md. Saifuddin, CFA, Former
Commissioner, Bangladesh Securities and Exchange Commission (BSEC), and Capital
Market Specialist, brought practical and professional perspectives to the
discussion. He addressed the practical implications of cross-border securities
regulation and highlighted the complexity of contemporary securities businesses
and transactions. His discussion considered the nature and operation of
securities exchanges at both global and local levels, while giving particular
attention to Bangladesh’s position within the broader international securities
regulatory landscape. He also reflected on the prevailing culture and practices
surrounding securities exchange in Bangladesh and their implications for the
development and regulation of the country’s capital market.
The session was chaired by Prof. Abdur Rob Khan,
Treasurer, North South University. In his observations, Prof. Khan thanked the
speakers and participants and congratulated the organisers for convening the
discussion. Referring to recent developments and occurrences in the securities
and financial sectors, he stressed the importance of timely academic and
professional discussions on emerging issues in cross-border securities
regulation.
The keynote address was followed by an open
question-and-answer session, during which attendees engaged directly with the
themes raised.
In the closing remarks from Prof. Ishtiaque Ahmed,
Professor of Law and Chair, Department of Law, North South University, he
reflected on the relationship between state sovereignty and the increasingly
transnational nature of securities markets, noting the challenges that arise
when cross-border financial activities intersect with territorially based
regulatory authority. He emphasised the need for greater harmonisation and
regulatory cooperation across jurisdictions, while acknowledging the legal,
institutional, and practical challenges involved in achieving such
harmonisation.
The seminar concluded with a memorable crest-presenting ceremony, honoring the discussant as a token of deep appreciation and respect for her invaluable contributions. Through the seminar, the North South University Center for Legal Research reaffirmed its commitment to facilitating informed academic and professional dialogue on contemporary issues of financial and commercial law and to creating platforms where theoretical, regulatory, and practical perspectives can engage with one another.
