The SC is actively involved in various international fora including among others, the International Organisation of Securities Commissions (IOSCO), the Organisation for Economic Cooperation and Development (OECD) and the Financial Action Task Force (FATF).
1. International Organisation of Securities Commissions (IOSCO)
The International Organisation of Securities Commissions (IOSCO) is the the leading international policy forum for securities regulators and is recognised as the global standard setter for securities regulation. The organisation's membership regulates more than 95% of the world's securities markets in more than 115 jurisdictions and its membership continues to expand. The SC has led various IOSCO Committees and Task Forces, including the following: - IOSCO Board (Vice Chair: 2013 – 2018);
- Growth and Emerging Markets Committee (Chair: 2013 – 2018; Chair: 1996 – 1999; Vice Chair: 2008 – 2012, Vice Chair 2019 – Present);
- Asia Pacific Regional Committee (Chair: 2000 – 2004);
- Emerging Markets Committee Working Group on Secondary Market Regulations (Chair: 1994 – 2013);
- Board Task Force on Long-Term Financing (Co-Chair: 2013 – 2014);
- Executive Committee Task Force on Islamic Capital Markets (Chair: 2002 – 2004)
The SC also participates and provides input to the Policy Committees of IOSCO, which are responsible for issuing standards that become the benchmark against which an IOSCO member's regulatory framework is assessed. IOSCO members, including the SC, undergo various assessments by a number of international organisations, including the International Monetary Fund and the World Bank as part of the Financial Sector Assessment Program (FSAP).
The Malaysian capital market regulatory framework emerged from this extensive assessment with a score of 92%, with ratings of `Fully Implemented’ for 34 out of 37 IOSCO Principles assessed. The detailed assessment is available
here. Since the assessment, the SC has taken steps to close the relevant gaps, including amending its laws and enhancing the relevant guidelines.