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its headquarters in Madrid, Spain, was a testament to Malaysia’s ongoing efforts in building a high quality and wellregulated capital market.

“The IOSCO is the world’s leading body of capital market regulators, which oversees markets worth over US$140 trillion (RM623 trillion). Thus, the creation of its first presence outside European headquarters here in Malaysia is a testament to the high quality of our capital markets,” said Ranjit.

He said the hub in Malaysia would foster a greater connectivity and inclusiveness within APAC and was a reflection of SC’s commitment in facilitating greater cross-border collaboration.

IOSCO chairman Ashley Alder said the creation of IOSCO APAC hub here was not just significant for Malaysia, but also for the region.

“Asia has been globally recognised as a particularly resilient region as it has undergone financial crisis as seen during the Asian Financial Crisis (AFC) of 1997,” said Alder.

“The creation of the hub in Malaysia, which is one of the strongest emerging economies within the region, plays an instrumental role in building the regulatory capabilities of developed and emerging jurisdictions in APAC, which also includes six of the G20 member countries.”

Alder, who is also Hong Kong Securities and Futures Commission’s chief executive officer, said the hub would also promote the transfer of knowledge, expertise and best practices from across IOSCO’s wide membership, and would contribute to efforts to develop and strengthen the resiliency of capital markets.

Established in 1983, IOSCO develops and promotes the implementation of global standards for capital market regulations.

Its members from 115 jurisdictions collectively regulate more than 95 per cent of markets worldwide.

The Malaysian capital market had last year grown to RM2.9 trillion, with total capital raised to RM98.5 billion, with higher levels of fundraising expected this year.

Right now, we will focus on getting the hub fully operational by the middle of the year. It will operate on a secondment model...

Tan Sri Ranjit Ajit Singh Securities Commission Malaysia chairman