SFC Regulatory Forum looks at creating more resilient financial markets

24 Jan 2014



The Securities and Futures Commission (SFC) today hosted the SFC Regulatory Forum 2014. Themed “New perspectives on the future of regulation in the aftermath of the Global Financial Crisis”, this first SFC industry forum examines post-Lehman financial regulation from both regional and global perspectives, and looks at ways of creating more resilient financial markets which properly serve real economies.

The forum follows SFC-hosted meetings of the Asia-Pacific Regional Committee (APRC) of the International Organization of Securities Commissions, attended by representatives from 21 jurisdictions, to discuss a broad range of regulatory and market issues.

Mr John C Tsang, Financial Secretary of Hong Kong SAR Government, delivered a keynote address at the forum. “Effective regulation, which promotes competition, quality, trust and confidence, is essential to the sustainable development of the entire financial services industry,” Mr Tsang said.

The full-day event was attended by close to 500 senior regulators, policymakers, leaders from the financial industry, professional bodies and academia around the world. Participants exchanged views on key regulatory and market issues, including the impact of G20 reforms on Asia, the latest regulatory initiatives on product regulation, the importance of integrity, good governance, and a healthy corporate culture in the market.

"Here in Asia, we are well aware that we must take into account the important lessons learnt from the global financial crisis,” said Mr Carlson Tong, the SFC’s Chairman. “We now need to look beyond the crisis, and chart a course towards creating stronger, deeper and more resilient financial markets both in Asia and globally. And this involves everyone – whether they are listed companies, intermediaries, directors, investors, regulators – all have a unique and important role to play.”

"The major global overhaul of financial regulation after the crisis has far-reaching effects in Asia. Although we are fully committed to G20-mandated reforms, a ‘one-size-fits-all’ solution may not apply to diverse economies outside the European Union and United States. We believe there should be a stronger, collaborative ‘Asian voice’ to respond to global regulatory developments and to articulate common goals within our region,” said Mr Ashley Alder, the SFC’s Chief Executive Officer and Chair of the APRC (Note 1).

More details on the forum are available in the SFC website. 

End

Note:

  1. The APRC, comprising 23 member jurisdictions from the Asia-Pacific region, is one of four regional committees constituted by the International Organization of Securities Commissions that focuses on regional issues relating to securities regulation.


Page last updated : 24 Jan 2014