Capital market regulators body to set up regional hub in KL

(from left to right): Chairman of the Securities Commission Malaysia, Vice Chairman of the IOSCO Board and Chairman of the Growth and Emerging Markets Committee Malaysia Datuk Ranjit Ajit Singh; and Chairman of Australian Securities and Investments Commission and Chair or the IOSCO Board Australia Greg Medcraft, at the press briefing held at the Securities Commission of Malaysia.

KUALA LUMPUR: The International Organisation of Securities Commissions (IOSCO), the global body of capital market regulators, plans to set up its first-ever regional office in Kuala Lumpur.

IOSCO’s membership regulates more than 95% of the world’s capital markets worth approximately US$140 trillion (RM590 trillion), in more than 115 jurisdictions. 

The Securities Commission (SC) Malaysia said in a statement that the establishment of the IOSCO regional hub for the Asia-Pacific represented the first time that the international regulatory organisation would have a presence outside its headquarters in Madrid, Spain.

The announcement was made on Feb 22 following IOSCO’s board meeting held last week.

SC said the Asia-Pacific regional hub, expected to be operational by year-end, would play a key role for IOSCO initiatives associated with building of regulatory capabilities within the region, which covers both developed and emerging markets.

The hub will also facilitate cross border regulatory cooperation and contribute to the development of the region’s capital markets through its initiatives. It is also expected to attract leading market and regulatory experts to Kuala Lumpur.
 
SC chairman Datuk Seri Ranjit Ajit Singh, who is also the vice chairman of IOSCO’s board and chairman of IOSCO’s growth and emerging markets committee, said: “The selection of Malaysia clearly demonstrates international recognition of Malaysia’s efforts towards building a high quality and well-regulated capital market and the role of the country in the region.”