Bangkok, May 14, 2019 - On May 13, 2019, SEC Secretary-General Ruenvadee Suwanmongkol, together with SEC Assistant Secretary-General Praoporn Senanarong, and Director of Strategy and International Affairs Department Julawadee Worasakyothin, attended the Asia-Pacific Regional Committee (APRC) meeting of the International Organization of Securities Commissions (IOSCO), which was held as part of the IOSCO 2019 Annual Meeting in Sydney, Australia.
The meeting
discussed important developments and course of actions in overseeing and
developing the capital markets of member jurisdictions. For instances, issues
around harmful but legal conduct such as push selling or unsuitable
distribution of financial products are found as a common area of concern arises
in many jurisdictions, which poses challenge to the regulators. In this view, members
have shared and discussed relevant guidelines and preventive measures such as industry
engagement and guidelines of good practices. The meeting further agreed that
the APRC members should conduct a self-assessment survey in order to collectively
find an appropriate direction or outcome in dealing with the issue.
SEC also
prioritizes and considers this matter to be crucial. Therefore, SEC has set out
guidelines and put in place a variety of tools such as risk monitoring and
management as well as preventive measures such as investor education to help
address these issues. There is also a forum of cooperation between three
domestic regulatory agencies including the Bank of Thailand, the Office of
Insurance Commission, and SEC to ensure
efficient regulatory supervision.
Other
important issues that were discussed during the meeting include oversight of Crypto-asset
trading platforms, the establishment of the supervisory cooperation working
group, and guidelines in organizing supervisory symposium to share experiences
and practices.
SEC also
received approval from the APRC meeting, which currently has Mr. Jun Mizuguchi from the Financial Services Agency of Japan
as its Chair, to host the next APRC plenary meeting during the second half of
2020 in Thailand.
IOSCO APRC members
consist of 31 regulatory and relevant agencies in the capital markets of the
Asia-Pacific region from 25 jurisdictions such as Australia, the People's
Republic of China, Hong Kong, Japan, South Korea, Malaysia, Singapore, and
Thailand.
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