With the increasing cross-border activities in capital markets within the region, a formal framework for regional supervisory cooperation among capital market regulators is crucial. On October 17, the Securities Commission Malaysia (SC) signed the IOSCO Asia Pacific Regional Committee’s (APRC) Multilateral Memorandum of Understanding for Supervisory Cooperation (Supervisory MMoU) at the International Organization of Securities Commissions (IOSCO) Annual Meetings 2022 in Morocco as the said Supervisory MMoU was established for the first time.
The SC now has a cooperative arrangement on supervisory matters with its regional regulatory counterparts including in Australia, Hong Kong, Japan, Singapore and Thailand, under the Supervisory MMoU.
“Cross-border supervisory cooperation is a key element to enhance investor protection. Information-sharing with regional regulators through this platform will strengthen the SC’s overall supervisory capabilities. I commend the APRC for the collaborative leadership demonstrated in this initiative,” The SC Chairman Dato’ Seri Dr. Awang Adek Hussin said.
“I would like to congratulate the Securities Commission Malaysia for being among the first signatories of the IOSCO APRC Supervisory MMoU. This is an important milestone that will enhance regulators’ cooperation and coordination across borders,” Chair of the APRC Takashi Nagaoka said.
The SC was also re-elected a member of the Board of IOSCO for the term 2022-2024. The SC has been a member of the IOSCO Board since 2012.
To recap, IOSCO is the governing and standard-setting body responsible for leading the direction and standard-setting process on policy issues affecting global capital markets,
Global securities regulators met at the IOSCO Annual Meetings and discussed the impact of current international developments in the financial sector, including the risks and challenges to the capital market. Delegates shared views on a range of topics including crypto and digital assets, sustainable finance, emerging risks and retail market conduct.
