Euromoney, March 20 2017
The International Organization of Securities Commissions (IOSCO) has opened its first significant presence outside of Madrid with a new regional office in Kuala Lumpur.
Apart from granting Malaysia and its Securities Commission bragging rights, it might just move along the glacial progress of Asean cross-border market initiatives.
IOSCO – whose members regulate markets with more than $140 trillion, accounting for 95% of all markets worldwide – took the step to develop capital markets and strengthen capabilities in Asia.
The idea was first seriously mooted about five years ago, and Malaysia – whose Securities Commission is an active IOSCO advocate – pitched itself as host.
“Part of our proposition was that Malaysia is uniquely placed as an advanced emerging market,” says Tan Sri Ranjit Ajit Singh, chairman of the Securities Commission and the driving force of the new hub.
Hong Kong and Singapore, though bigger markets, are not considered emerging; Malaysia is, but with sophisticated markets and regulation.
Read the whole article here