The International Organization of Securities Commissions (Iosco) has re-elected Greg Medcraft, chairman of the Australian Securities & Investment Commission, as chairman of the Iosco board at the inaugural meeting of the newly constituted board.

Medcraft said he was committed to working with the board “with a clear focus on our work in building trust and confidence in the global markets we regulate.”

The board also re-elected Howard Wetson, chair of the Ontario Securities Commission, as its vice chair. 

Ranjit Singh, who was re-elected chair of the Iosco growth and emerging market (GEM) committee on Monday, continues ex officio as board vice chair.  Singh is also the chair of the Securities Commission Malaysia. 

Leonardo P Gomes Pereira, chairman of the Comissão de Valores Mobiliários of Brazil, was re-elected as a vice chair of the GEM Committee. He joins Bert Chanetsa of the South African Financial Services Board, who was re-elected as GEM committee vice chair.

All appointments are for a two-year term.

The new board constituted this week in Rio de Janeiro has 34 members, two more than the previous board. It better represents the geographical diversity of Iosco’s membership, according to Iosco.

Its constitution marks the end of the transitional period that began with the creation of the first board in 2012.