SC Chairman elected as Vice Chair for IOSCO & GEM
Focus Malaysia 12 Feb 2019 15:55
The Securities Commission Malaysia (SC) chairman, Datuk Syed Zaid Albar, has been elected the Vice Chair of the International Organisation of Securities Commissions (IOSCO) Growth and Emerging Markets (GEM) Committee.
The IOSCO GEM Committee’s priorities are focused, among others, on policy and development work affecting emerging markets; risks and vulnerabilities assessments; and regulatory capacity building. It is the largest Committee within IOSCO, representing close to 80% of the IOSCO membership, including 11 of the G20 members.
As Vice Chair of the GEM Committee, Datuk Syed Zaid will be a member of the IOSCO Board, the governing and standard-setting body of IOSCO. Datuk Syed Zaid also co-chairs the IOSCO GEM Committee Working Group on Sustainability in Emerging Markets.
Datuk Syed Zaid said, “International cooperation and engagement through IOSCO is critical given the increasingly complex market environment, growing financial innovation and expanding cross-border activities.”
“Malaysia’s leadership position at IOSCO strengthens the SC’s commitment to drive the digital finance agenda and augments Malaysia’s position as a regional leader in sustainable finance,” he added.
IOSCO is the leading global standard setter for securities regulation, whose membership regulates more than 95% of the world’s securities markets in more than 115 jurisdictions.
The SC hosts the IOSCO Asia Pacific Hub in Kuala Lumpur, the first Regional Hub established outside of the IOSCO headquarters in Madrid, Spain.