APEC financial regulators share experience with Malaysia on effective capital market supervision

Kuala Lumpur, 4 April 2002 – A group of financial regulators from several APEC (Asia-Pacific Economic Cooperation) countries were in Kuala Lumpur from 1-3 March to share their experience in capital market supervision with the Securities Commission (SC), Malaysia and local exchanges.

The programme entitled “National Training Programme on Market Supervision” was held under the auspices of the APEC Financial Regulators’ Training Initiative and jointly-organised by the SC’s Securities Industry Development Centre (SIDC) and the Asian Development Bank (ADB).

Speakers at the programme comprised officials from ADB, the Australian Securities and Investment Commission, the Hong Kong Futures and Exchange Commission, the Monetary Authority of Singapore, the Ontario Securities Commission, the Securities Commission of the Philippines, the Governance Group of the US and Ernst and Young of Australia.

The SC and other participants benefited greatly from discussions on, among others, effective frontline regulation, single licensing regime, e-commerce, corporate governance, market surveillance, risk-based supervision and demutualisation.

“The programme provided a platform for Malaysia to tap on the experience of APEC financial regulators in capital market supervision,” said the SIDC Manager, Teh Ija Jalil.

“Such information sharing is highly-beneficial for the SC and the exchanges to enhance our market supervision functions. Market supervision is indeed challenging and entails a wide range of activities such as examination of market institutions intermediaries and monitoring market trading.

“It also involves developing and overseeing primary market policies and rules and to ensure that public listed companies comply with approved standards of financial reporting and accounts,” said Teh Ija.

Teh Ija said the programme was in line with the SC’s efforts to keep itself and relevant market institutions continuously abreast of the latest in market supervision, especially in an environment which is constantly and rapidly changing due to globalisation and advances in information technology.

4 April 2002