The Securities Commission Malaysia and the Labuan Financial Services Authority have forged a new relationship for greater regulatory, enforcement, and supervisory co-operation between the two regulators.
Cooperation will cover the development and regulation of capital market activities in Malaysia, it will also enable the SC and Labuan FSA to strengthen collaboration in areas of mutual interest, including monitoring risks and promoting the stability of the capital market. With the MOU, both parties will enhance the provision of technical assistance, capacity building, and exchange of information between the two regulators.
The SC Chairman Datuk Syed Zaid Albar said, “This collaborative arrangement is an important initiative to grow our capital markets and achieve greater cooperation and synergy between the SC and Labuan FSA. Supervision and oversight are always at the core of any regulator’s mandate. This enhanced collaboration toward building a robust, innovative, and stable regulatory environment will spur the growth of existing and new market segments and benefit our markets, participants and investors.
“The MOU will pave the way for the SC and Labuan FSA to further strengthen an already long-standing collaboration between both regulators, in ensuring the steady development of the capital market industry in the Labuan IBFC and Malaysia’s capital
market landscape,” said the Chairman of Labuan FSA Datuk Siti Zainab Omar.