PETALING JAYA: The Securities Commission (SC) has tied up with the Securities and Exchange Regulator of Cambodia (SERC) to enhance regulatory, enforcement and supervisory cooperation between both parties.
SC chairman Datuk Seri Awang Adek Hussin said increased regulatory cooperation between authorities becomes more crucial as connectivity between Asean markets grows.
“This memorandum of understanding (MoU) significantly enhances bilateral ties between the two authorities and will be mutually beneficial as we develop and regulate our respective capital markets,” he said in a statement.
The MoU is expected to strengthen collaborative efforts in areas of mutual interest between the regulators, as it encompasses cross-border enforcement assistance, regulation and supervision of capital market intermediaries, as well as the facilitation of licensing information.
Moreover, capacity building and human capital development will also be addressed through the collaboration.
The SC and SERC will also be exchanging regulatory expertise and technical knowledge to facilitate the development of the respective capital markets.
This is in tandem with the continued growth and development of both Malaysian and Cambodian capital markets.
SERC director-general Sou Socheat said Malaysia and Cambodia can expect long-term benefits through the MoU.
“With the MoU signing, the cooperation between the two authorities is highly valued, signalling strong trusted relationships and sharing of experiences in various areas, especially regulation and supervision,” he said.