Kuala Lumpur, 20 April 2010
Malaysia and Turkey to enhance cooperation in capital market regulation
The Securities Commission Malaysia (SC) today signed a Memorandum of Understanding (MoU) with the Capital Markets Board of Turkey (CMB), paving the way for closer regulatory collaboration between the two capital market regulators.
The MoU was signed by the SC Chairman Tan Sri Zarinah Anwar and CMB Chairman Dr Vedat Akgiray in Kuala Lumpur. Dr Akgiray is leading a delegation of 12 high-level officials from Turkey for a two-day visit to Malaysia.
Tan Sri Zarinah said that “the MoU is an important step towards strengthening regulatory cooperation in areas of mutual interest between the capital markets of Turkey and Malaysia.”
“The MoU will enable us to enhance the level of regulatory cooperation between our respective markets in line with the objectives and standards of IOSCO,” Dr Akgiray said. IOSCO, or the International Organization of Securities Commissions, is recognised as the leading international standard setter for securities markets.
Securities Commission Malaysia Chairman Tan Sri Zarinah Anwar and Capital Markets Board of Turkey Chairman Dr Vedat Akgiray exchanging the documents after signing a Memorandum of Understanding in Kuala Lumpur on 20 April 2010. The MoU aims to promote closer collaboration between the two capital market regulators.
Under the MoU, the SC and CMB will exchange information to facilitate the supervision and enforcement of their respective capital markets, exchange technical knowledge and collaborate in areas of mutual interest.
The SC, committed to strengthening international cooperation in securities regulation, has signed 28 MoUs with various regulators since 1994. They include the Capital Market Supervisory Agency of Indonesia, Hong Kong Securities and Futures Commission, Securities and Exchange Commission of Thailand, the China Securities and Regulatory Commission and the Dubai Financial Services Authority. The SC is also a signatory to the IOSCO Multilateral Memorandum of Understanding, a global information-sharing arrangement among securities regulators.
SECURITIES COMMISSION MALAYSIA