IOSCO’s membership regulates more than 95% of the world’s capital markets worth approximately USD140 trillion, in more than 115 jurisdictions.

The establishment of the IOSCO Regional Hub for the Asia-Pacific represents the first time that the international regulatory organisation will have a presence outside its headquarters in Madrid, Spain. The announcement was made on 22 February following IOSCO’s Board meeting held last week.

The Asia-Pacific Regional Hub will play a key role for IOSCO initiatives associated with building of regulatory capabilities within the Asia-Pacific region, which covers both developed and emerging markets. The Hub will also facilitate cross border regulatory cooperation and contribute to the development of the region’s capital markets through its initiatives. It is also expected to attract leading market and regulatory experts to Kuala Lumpur.

Dato’ Seri Ranjit Ajit Singh, Chairman of Securities Commission (SC) Malaysia, who is also the Vice Chairman of IOSCO’s Board and Chairman of IOSCO’s Growth and Emerging Markets Committee, welcomed the decision made during the IOSCO Board meeting.

“The decision by IOSCO is an important milestone in the history of the organisation in setting up its first ever regional location. SC Malaysia is delighted that the IOSCO Board has selected Malaysia as the location for its Asia-Pacific Hub. Capital markets globally have now become a key driver of economic growth and financing, and the Asia-Pacific region has some of the world’s most significant economies and capital markets. The selection of Malaysia clearly demonstrates international recognition of Malaysia’s efforts towards building a high quality and well-regulated capital market and the role of the country in the region”, said Dato’ Seri Ranjit Ajit Singh.

The IOSCO Board Chairman, Greg Medcraft said “The Regional Hub in Kuala Lumpur will take IOSCO to a new level and will play a significant role in developing and deepening regional capital markets. I would like to congratulate SC Malaysia for being the first IOSCO Regional Hub and successfully fulfilling the relevant criteria”. The Regional Hub in Kuala Lumpur is expected to be in operation by the end of 2016.