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New Straits Times - - News -

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

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