Tuesday, March 14, 2017 4.22PM / News
The International Organization of Securities Commissions (IOSCO) today unveiled the IOSCO Asia Pacific Hub in Kuala Lumpur, hosted by the Securities Commission (SC) Malaysia.
This initiative responds to a growing demand among IOSCO members for enhanced capacity building, particularly in growth and emerging markets. The need to enhance regulatory capacity is intensifying, given an increasingly complex market environment, growing financial and technological innovation and rapidly expanding cross-border activity. These circumstances pose challenges for regulators, increasing the need for IOSCO members to strengthen their regulatory expertise and hone their ability to oversee and supervise markets.
Ranjit Ajit Singh, Chair of SC Malaysia, Vice Chair of the IOSCO Board and Chair of the IOSCO Growth and Emerging Markets (GEM) Committee, which represents 75% of IOSCO membership said, “SC Malaysia is delighted to be able to host the Asia Pacific Hub of IOSCO and contribute to IOSCO's efforts in augmenting the regulatory capabilities and market development efforts of its members.”
Ashley Alder, Chair of the IOSCO Board and the Chief Executive Officer of the Hong Kong Securities and Futures Commission, said, “The launch of the IOSCO Asia Pacific Hub in Kuala Lumpur marks an important milestone for IOSCO, delivering quality capacity building for all IOSCO members, particularly for developing and emerging markets in the Asia-Region. I would like to congratulate and thank the Securities Commission Malaysia for hosting the very first IOSCO Hub and I wish it every success.”
Under the supervision of the IOSCO Secretary General, the Hub will deliver capacity building activities to its members within the Asia-Pacific region. The Hub will enable IOSCO to leverage on the experience, expertise and infrastructure in the region and scale up its capacity building activities, expand the number and spectrum of programmes that it offers, and train more members overall.
Paul Andrews, IOSCO Secretary General, said, “The Hub will enable us to offer a wider array of capacity building activities to a larger number of members, and to tailor our programs to the specific needs of the Asia-Pacific region.”
IOSCO has long offered its members capacity building activities, such as seminars, workshops, roundtables, staff secondments and, more recently, an online toolkit on risk based supervision and enforcement. This includes inter alia an annual Seminar Training Program and a more recent IOSCO Global Certificate Program which was inaugurated last year. A full list of IOSCO training programs is available on the IOSCO website.