New Chairman of the Joint Forum

Gay Huey Evans, Director of Markets at the UK Financial Services Authority (FSA), takes over in January 2004 as Chairman of the Joint Forum, a group of experts working under the umbrella of the Basel Committee on Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS). She succeeds José María Roldán, General Director of Financial Regulation at the Bank of Spain, who has completed his two-year term as Chairman of the Joint Forum.

Gay Huey Evans said today, “I am greatly honoured to be taking on this pivotal position in international financial regulation and will aim to build on the progress the Joint Forum has made under the strong lead of my predecessor, José María Roldán.”

She continued, “The Joint Forum recently published papers on operational risk and risk aggregation and of course it is busy with disclosure of financial risk and a new issue, credit risk transfer. I hope my experience in both the banking and investment sectors will enable me to take forward this work in a positive way aided by the insight that comes from working at an integrated regulator like the FSA.”

The Joint Forum was established in 1996 under the aegis of the BCBS, IOSCO and the IAIS to deal with issues common to the banking, securities and insurance sectors, including the regulation of financial conglomerates. The Joint Forum is comprised of an equal number of senior bank, insurance and securities supervisors representing each supervisory constituency.