World Capital Market Regulators launch first Asia Pacific Hub in Malaysia
The International Organization of Securities Commissions (IOSCO) launched its first Asia Pacific Hub in Malaysia.
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 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 Tan Sri Ranjit Ajit Singh, SC Chairman in his opening speech at the GEMRC, a high-level conference where over 300 international and local participants discussed market and regulatory developments.
IOSCO is the global standard setter for capital market regulation. Its members from over 115 jurisdictions collectively regulate more than 95 per cent of markets worldwide. Established in 1983, IOSCO develops and promotes the implementation of global standards for capital market regulation.
“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,” said Ashley Alder, who is IOSCO Board Chairman and Hong Kong Securities and Futures Commission Chief Executive Officer.
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.