| Singapore | 14 Mar 2017 | Asia Samachar |
The Securities Commission of Malaysia, under the leadership of Ranjit Ajit Singh, scored a major coup when it got an international regulator’s outfit to set up a hub in Malaysia, a first for the organisation.
The International Organization of Securities Commissions (IOSCO) – a global body of capital market regulators which oversee markets worth over US$140 trillion – today (14 March 2017) launched its first-ever Asia Pacific Hub in Malaysia.
The hub is intended to further develop capital markets and strengthen regulatory capabilities in the region, the SC said in a statement.
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The IOSCO Asia Pacific Hub, located at the Securities Commission Malaysia (SC) building in Kuala Lumpur, will be IOSCO’s first presence outside of its headquarters in Madrid, Spain.
Malaysian Prime Minister Mohd Najib Abdul Razak launched the hub at the Global Emerging Markets Regulatory Conference 2017 (GEMRC).
Also present was Ashley Alder, who is IOSCO chairman and Hong Kong Securities and Futures Commission Chief Executive Officer.
Ranjit is also Vice Chairman of the IOSCO Board and Chairman of IOSCO’s largest committee, the Growth and Emerging Markets Committee.
“The selection of Malaysia as the host of the first ever regional Hub reinforces the country’s efforts in building a high quality and well-regulated capital market. The Hub in Malaysia will foster greater connectivity and inclusiveness within the Asia Pacific region, and is a reflection of the SC’s commitment in facilitating greater cross-border collaboration,” said Ranjit in his opening speech at the GEMRC, a high-level conference where over 300 international and local participants discussed market and regulatory developments.
In another development, SC’s Ranjit was today named as one of the six members of a task force formed to investigate the foreign exchange (forex) scandal involving Bank Negara Malaysia (BNM) in the 1990s.
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