PHOTO: NAJIB launches the IOSCO while Ranjit (right) and Alder (left) look on.
14 March 2017
KUALA LUMPUR – The International Organization of Securities Commissions (IOSCO) – the world’s leading body of capital market regulators which oversee markets worth over USD140 trillion – launched its first-ever Asia Pacific Hub in Malaysia today.
The hub is intended to further develop capital markets and strengthen regulatory capabilities in the region.
The IOSCO Asia Pacific Hub, located at the Securities Commission Malaysia (SC) building in Kuala Lumpur, will be IOSCO’s first presence outside of its headquarters in Madrid, Spain.
The hub was launched at the Global Emerging Markets Regulatory Conference 2017 (GEMRC) by the prime minister, Datuk Seri Mohd Najib Razak, accompanied by SC Chairman Tan Sri Ranjit Ajit Singh and Ashley Alder, who is IOSCO Board Chairman and Hong Kong Securities and Futures Commission Chief Executive Officer.
Ranjit who is also the vice chairman of the IOSCO Board and chairman of IOSCO’s largest committee, the Growth and Emerging Markets Committee spoke that the selection of Malaysia as the host of the first ever regional hub reinforces the country’s efforts in building a high quality and well-regulated capital market.
“The hub in Malaysia will foster greater connectivity and inclusiveness within the Asia Pacific region, and is a reflection of the SC’s commitment in facilitating greater cross-border collaboration,” said him in his opening speech at the GEMRC, a high-level conference where over 300 international and local participants discussed market and regulatory developments.
While Alder said that the launch of the IOSCO Asia Pacific Hub in Kuala Lumpur marks an important milestone for IOSCO, delivering quality capacity building for all IOSCO members, particularly for developing and emerging markets in the Asia Region.
“I would like to congratulate and thank the Securities Commission Malaysia for hosting the very first IOSCO Hub and I wish it every success,” he said.
IOSCO is the global standard setter for capital market regulation.
Its members from over 115 jurisdictions collectively regulate more than 95% of markets worldwide. Established in 1983, IOSCO develops and promotes the implementation of global standards for capital market regulation.
The hub will play an instrumental role in building the regulatory capabilities of developed and emerging jurisdictions in the Asia Pacific region, which includes six of the G20 members.
The hub will promote the transfer of knowledge, expertise and best practices from across IOSCO’s wide membership, and will contribute to ongoing efforts to develop and strengthen the resiliency of capital markets.