Membership of International Standard Setting Bodies
The Regulatory Authority, through its memberships, has an opportunity to benchmark and achieve international best practice, to ensure its vision to efficiently and effectively regulate and supervise in line with international best practice is achieved.
Adherence to international standards and best practice strengthens regulatory reforms, cross-border cooperation and assistance, compliance with international standards and reputational profile and standing both domestically and internationally.
The Regulatory Authority interacts with international standard-setting bodies through various modes including attending conferences and meetings and information sharing. Multilateral platforms are encompassed under the Multilateral Memoranda of Understanding (MMoU) between member countries of international organisations.
Through its membership with international organizations, the Regulatory Authority adheres to norms and standards in order to preserve the good repute of Botswana in the financial services sector.
Regionally the Regulatory Authority liaises with, and monitors developments in the financial sector, including developments within the Financial Stability Board and Southern African Development Community, and similar bodies. The Regulatory Authority regional memberships;
Committee of Insurance, Securities and Non-banking Financial Authorities (CISNA)
Is made up of non-banking financial institutions authorities from the SADC region and reports to the SADC Committee of Ministers of Finance. Its aim is to promote and maintain financial stability and growth in the SADC region through a process of co-operation, exchange of information and engagement between regional regulators.
Member states are Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe.
Financial Stability Board (FSB) Regional Consultative Group for Sub-Saharan Africa
The FSB promotes international financial stability; it does so by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory and other financial sector policies. It fosters a level playing field by encouraging coherent implementation of these policies across sectors and jurisdictions.
The FSB, working through its members, seeks to strengthen financial systems and increase the stability of international financial markets. The policies developed in the pursuit of this agenda are implemented by jurisdictions and national authorities.
Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)
Is a regional organization founded to combat money laundering through implementation of anti-money laundering strategies on member countries. The strategies of ESAAMLG include implementation of the Financial Action Task Force (FATF) recommendations with particular focus on the Eastern and Southern Africa regions
Internationally the Regulatory Authority is a member of the following bodies.
International Association of Insurance Supervisors (IAIS)
Established in 1994, with a mission to promote effective and globally consistent supervision of the insurance industry in order to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders and to contribute to global financial stability.
International Organisation of Securities Commissions (IOSCO)
The leading international policy forum for securities regulators and is recognized as the global standard-setting body for securities. The Regulatory Authority has been a member since August 2015 as an associate member and it is priority for the Regulatory Authority to attain a full Ordinary membership with IOSCO.
International Organisation of Pension Supervisors (IOPS)
An independent international body representing those involved in the supervision of private pension arrangements. Formed in July 2004, the major objective of IOPS is to improve the quality and effectiveness of the supervision of private pension systems throughout the world.
