Malaysia, Cambodia Regulators Ink MOU for Capital Markets Cooperation
by Fintech News Malaysia March 1, 2023The Securities Commission Malaysia (SC) has inked a Memorandum of Understanding (MOU) with the Securities and Exchange Regulator of Cambodia (SERC) for greater regulatory, enforcement, and supervisory cooperation.
The regulators said in a joint statement that the MOU was signed due to the “growing globalisation and cross-border activities of regulated entities/persons in both countries”.
The MOU covers cross-border enforcement assistance, regulation, and supervision of capital market intermediaries, and the facilitation of licensing information.
It also addresses capacity building and human capital development, as well as the exchange of regulatory expertise and technical knowledge to facilitate and encourage the development of the respective capital markets.
Dato’ Seri Dr. Awang Adek Hussin
The SC Chairman Dato’ Seri Dr. Awang Adek Hussin said as connectivity between ASEAN markets grows, increased regulatory cooperation between authorities becomes imperative.
“This MOU significantly enhances bilateral ties between the two authorities and will be mutually beneficial as we develop and regulate our respective capital markets”,
Sou Socheat
Sou Socheat, Director-General of the SERC said,
“With the MOU signing, the cooperation between the two authorities is highly valued, signaling strong trusted relationships and sharing of experiences in various areas especially regulation and supervision.
Both markets will gain from this cooperation as this will create long-term benefits for our people and country in this globalisation of financial market.”
