The Board of the International Organization of Securities Commissions (IOSCO) agreed to begin work on a strategic plan for 2015-2020 (IOSCO 2020) that would define the outcomes IOSCO would seek to achieve by 2020 and lay down the roadmap for meeting those outcomes. Members discussed how to move forward with work requested by the G20 on key issues for securities markets, including OTC derivatives, financial benchmarks, credit rating agencies and shadow banking.