Press Release
Kuala Lumpur, 20 February 2014

From left: Howard Wetston, Ontario Securities Commission Chairperson, HE Mohammed Al-Sheikh, Saudi Arabia Capital Market Authority Chairman, Greg Medcraft, IOSCO Chair and ASIC Chairman, Datuk Seri Najib Tun Razak, Malaysian Prime Minister, and Datuk Ranjit Ajit Singh, SC Chairman.

World’s leading capital market regulators meet in Kuala Lumpur
Key capital market regulators from developed and emerging market economies met in Kuala Lumpur this week for the Board Meeting of the International Organization of Securities Commissions (IOSCO).

“Securities regulators play an instrumental role in shaping the long-term architecture of global capital markets. Given the increasingly complex and competitive international financial markets, it is essential for the global regulatory community to come together to build stronger and more developed markets,” said Malaysia’s prime minister, Dato’ Sri Najib Tun Razak, in his special remarks at a dinner held in conjunction with the IOSCO Board Meeting.

“Markets can and must play their part as enablers for the allocation of wealth, to serve as a powerful tool to promote sustainable and inclusive growth in the real economy,” he said.

Members of the IOSCO regulate over 95% of the world’s capital markets worth approximately US$127 trillion. Over 100 representatives of IOSCO from 30 jurisdictions around the world are in Malaysia during 19-21 February for the IOSCO Board Meeting, to discuss global issues affecting capital markets.
IOSCO’s Growth and Emerging Markets (GEM) Steering Committee also held its inaugural meeting, chaired by Datuk Ranjit Ajit Singh, who is the Chairman of Securities Commission Malaysia.

“In today’s post-crisis environment, the role of capital markets has become more important than ever as they represent a vital source of financing,” said Datuk Ranjit. “SC Malaysia will continue to work with regulators around the world to enhance the effectiveness of cross-border regulation, and to inculcate higher standards of corporate governance and market conduct to support growth through market-based financing in our markets.”

IOSCO is the leading global standard setter for securities regulation. Through its work on standard setting and cooperative efforts in areas of supervision and enforcement, IOSCO seeks to maintain the trust and confidence of the marketplace. It is committed to enhancing the consistency of regulatory standards across the world and developing a regulatory reform agenda to meet the challenges of an increasingly complex financial environment.