Since early 2011 the focus of the International Securities Market Advisory Group (the “ISMAG”) changed to promoting the implementation of the ISMAG change programme, and its published best practices, within the ISMAG member’s organisation and to the wider market agents and participants.
Senior Advisory Group
The Senior Advisory Group will, during the implementation phase:
- Ensure the accuracy of ISMAG standards
- Promote and monitor the timely implementation of ISMAG standards in the market (across locations and issuance mix)
- Ensure adequate communication of ISMAG standards to market participants and trade associations
- Monitor and/or address relevant regulatory and/or market policy developments and integrate, where relevant, such recommendations
Implementation Monitoring Group
The Implementation Monitoring Group (“IMG”), established under the auspices of the ISMAG, is responsible for monitoring and measuring the implementation of the ISMAG change programme.
The IMG will
- Monitor Key performance indicators results, globally and/or within each members own firm
- Promote ISMAG recommendations and share implementation best practices (hints & tips) with their peers, with other business/reporting lines within their organisations, and up/downstream counterparts, as applicable
- Develop and deploy an implementation plan within each member’s firm
- Work on any additional objectives mandated by the Senior Advisory Group
The Project Management Office
The Project Management Office (the “PMO”) remains responsible for the follow-up deliverables, planning, and administrative support to the Senior Advisory Group and the Monitoring Group meetings.
For more details, see the ISMAG Terms of Reference in Annex 14B of the MPB.