Securities Commission Malaysia Inks Regional Supervisory Cooperationby Fintech News Malaysia October 19, 2022 0 comments
The Securities Commission Malaysia (SC) has signed the IOSCO Asia Pacific Regional Committee’s (APRC) Multilateral Memorandum of Understanding for Supervisory Cooperation (Supervisory MMoU) at the International Organisation of Securities Commissions (IOSCO) annual meetings in Morocco on Monday.
The SC now has a cooperative arrangement on supervisory matters with its regional regulatory counterparts including in Australia, Hong Kong, Japan, Singapore and Thailand.
According to a statement by the SC, this Supervisory MMoU establishes for the first time, a formal framework for regional supervisory cooperation among capital market regulators.
The SC was also re-elected a member of the Board of IOSCO where it has been a member since 2012.
IOSCO is the governing and standard-setting body responsible for leading the direction and standard-setting process on policy issues affecting global capital markets, for the term 2022-2024.
Dato’ Seri Dr. Awang Adek Hussin, Chairman of the SC said,
“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.”
Featured image: (From left to right) Martin Moloney (IOSCO Secretary General) and Dr Awang Adek Hussin (SC Chairman)