Kuala Lumpur, 21 October 2009

Regulators to discuss regulatory reforms and responses to global financial crisis at SC forum

Securities Commission Malaysia (SC) and regulators from other emerging markets will study regulatory reforms and responses to the global financial crisis at an annual forum hosted by the SC from 24-30 October in Kuala Lumpur.

The Emerging Markets Programme (EMP), one of SC’s flagship programme in capacity building for regulators, will also highlight efforts by the International Organization of Securities Commissions (IOSCO) and other multilateral bodies in bringing reforms to the global financial and capital markets.

Themed “Managing the Regulatory Pendulum – Striking a Balance”, the EMP will be attended by some 60 speakers and delegates from over 19 countries. They will exchange views on what can emerging markets regulators learn from the worst global financial crisis since the 1930s.

One of the key challenges confronting regulators, especially from the emerging markets, is how to strike the right regulatory balance to ensure that the rules and regulations are robust enough to withstand systemic shocks to the markets while allowing room for innovation.

SC Chairman Tan Sri Zarinah Anwar will deliver the keynote address. Other prominent speakers include:

  • Dr Ahmad Fuad Rahmany, Chairman of Indonesia Capital Market Supervisory Agency (BAPEPAM);
  • Fe B. Barin, Chairperson of the Securities and Exchange Commission (SEC), Philippines;
  • Greg Tanzer, Secretary General of the Madrid-based International Organization of Securities Commissions (IOSCO);
  • K.N. Vaidyanathan, Executive Director of Securities and Exchange Board of India (SEBI);
  • Paul Saulski, Senior Counsel in the Office of International Affairs at the U.S. Securities and Exchange Commission (SEC);
  • Anthony Belchambers, Chief Executive of the London-based Futures & Options Association;
  • Datuk Seri Panglima Andrew Sheng, Chief Advisor of China Banking Regulatory Commission and a member of Malaysia’s National Economic Action Council;
  • Prakash Kannan, economist, International Monetary Fund (IMF).

They will, among others, touch on managing systemic risks, the future of hedge funds, strengthening the role of auditors, raising corporate governance standards and enhancing market supervision.

The EMP, which enters its 10th edition this year, is developed by the Securities Industry Development Corporation (SIDC), the training arm of the SC.