Global market regulators pledge greater cooperation
03 Dec 2012
Member regulators of the International Organisation of Securities Commission (IOSCO) participating in the Asia-Pacific Regional Committee (APRC) meeting in Bangkok, Thailand on 28-30 November, pledged greater engagement among themselves amidst strong growth expected in the securities markets in the future.
The meeting underscored the importance of securities regulators engaging with one another, both at the global and at the regional level, so as to ensure safety, integrity and transparency of securities markets and to develop a well-coordinated and forward looking response to emerging and evolving developments.
Earlier, a roundtable attended by senior executives drawn from different parts of the private sector in the financial services industry of the Asia-Pacific region highlighted the importance of building, nurturing and strengthening investors' trust and confidence by addressing the emerging risks in a consistent, prudent, timely and a well-defined manner.
It also underscored the importance of consistency and predictability in regulatory rule making and implementation across jurisdictions and regions.
The meeting also highlighted the importance of appropriate regulatory response in the face of possible risk of contagion for the Asia-Pacific region due to decline in growth rates across the world.
The participants resolved to further strengthen the existing mechanisms for information sharing on enforcement related issues, with a view to avoid regulatory arbitrage apart from information about important policy and regulatory developments.
