MFA submits letter to IOSCO on its consultation regarding valuations

MFA submitted a comment letter to the Board of the International Organization of Securities Commissions (IOSCO) in response to its Consultation regarding valuations.

In the letter, MFA:

• Supports IOSCO's effort, with boundaries

  • MFA supports IOSCO's valuation-standards update but stresses that the Recommendations must remain limited to open-end retail funds, not private funds with fundamentally different structures and risk profiles.

• Encourages flexibility over prescription

  • MFA urges flexible, principles-based valuation governance, warning against prescriptive rules (e.g., mandated committees, model checks, stale-valuation triggers) that conflict with existing, effective frameworks under SEC, AIFMD, and IFRS/ASC standards.

• Urges IOSCO to avoid duplication

  • Private funds already operate under robust valuation, oversight, and recordkeeping regimes, so IOSCO should avoid duplicative mandates and ensure proportionality, particularly for smaller managers.