The financial crisis forced the International Organization of Securities Commissions to consider expanding the scope of its oversight. IOSCO is looking into more directly supervising investment products because they pose a risk to the broader financial system. "Much mischief occurred in areas exempt from regulation, so we're looking now at [over-the-counter financial products], credit ratings agencies and hedge funds, and those areas link back to investor confidence," said Jane Diplock, executive committee chief at IOSCO.

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