Thailand
Cambodia, Malaysia’s securities regulators ink MoU for regulation
The Securities and Exchange Regulator of Cambodia (SERC) and the Securities Commission Malaysia (SC) on Monday signed the Memorandum of Understanding (MoU) to facilitate greater regulatory, enforcement and supervisory cooperation between the two securities regulators, said a press release.
Both countries will strengthen collaboration in areas of mutual regulatory interest as it covers cross-border enforcement assistance, regulation and supervision of capital market intermediaries, and the facilitation of licensing information in the light of growing globalisation and cross-border activities of regulated entities and persons in Cambodia and Malaysia.
The MoU was signed by SERC’s Director General Sou Socheat and Dato’ Seri Awang Adek Hussin, Chairman of SC in the presence of senior officials of the two securities regulators, and held a discussion as a first step to explore the MoU’s objectives to facilitate the development of the respective capital markets.
Areas such as investor protection, capacity building and product offerings and development were discussed during the meeting. In furthering some of these areas, the two regulators agreed that consultation with domestic market participants would enable stakeholders to gauge relevant demand and feasibility.
“With the MoU signing, the cooperation between the two authorities is highly valued, signalling strong trusted relationships and sharing experiences in various areas, especially regulation and supervision. Both markets will gain from this cooperation as this will create long-term benefits for our people and country in this globalisation for the financial market,” Socheat said.
SC Chairman Dato’ Seri Awang Adek Hussin said as connectivity among the markets in the member states of the Association of Southeast Asian Nations (ASEAN) has grown, it is imperative that bilateral regulatory cooperation between authorities needs to be increased and enhanced accordingly to develop and regulate their respective capital markets.
Dato’ Seri Awang Adek Hussin also said that the MoU addresses capacity building and human capital development as well as the exchange of regulatory expertise and technical knowledge to facilitate and encourage the development of the respective capital markets, in tandem with the continued growth and development of both Cambodian and Malaysian capital markets.
SERC is a statutory body established with a mandate to regulate the securities industry in Cambodia, while SC is the sole regulatory agency for the regulation and development of capital markets in Malaysia and has direct responsibility for supervising and monitoring activities of market institutions including the exchanges and clearing houses, and regulating all licensed persons.
Source: https://www.khmertimeskh.com/501247835/cambodia-malaysias-securities-regulators-ink-mou-for-regulation/