ASEAN financial regulators hold meetings

Following the publication of the ASEAN Capital Markets Forum (ACMF) Action Plan 2021-2025 on March 15, the ACMF held virtual stakeholder engagement sessions between July 1 and 8 with capital market participants and other stakeholders of ASEAN member countries.

The stakeholder engagements were organised by the Brunei Darussalam Central Bank (BDCB), State Securities Commission of Vietnam (SSC Vietnam) and Sustainable Finance Institute Asia (SFIA).

The stakeholder engagements were divided into three sessions. The first was held for participants from Malaysia, Singapore and Thailand on July 1; the second session for participants from Brunei, Cambodia, Lao PDR and Myanmar on July 6; and the third session for participants from Vietnam, Philippines and Indonesia on July 8.

It was attended by more than 150 participants across ASEAN. Also in attendance was the Principal Finance Sector Specialist from the Asian Development Bank.

In realising the ACMF Vision 2025, the action plan sets out three strategic objectives – fostering growth and recovery with sustainability; promoting and sustaining inclusiveness; and strengthening and maintaining orderliness and resilience.

The five key priorities that support the strategic objectives are – driving higher levels of transparency and disclosure; continuing with regulatory harmonisation; intensifying capacity building; amplifying communication and awareness building; and strengthening co-operation and co-ordination.

The stakeholder engagement sessions were aimed to socialise the strategic goals and key priorities of the action plan and to have a dialogue on how the ACMF and capital markets participants can work together to improve and build up the capital markets ecosystem going forward.

ACMF takes a collaborative approach in its undertakings. This is reflected under two of its five key priorities which are to amplify communication and awareness building and strengthen co-operation and co-ordination. As such, awareness, involvement and feedback of its stakeholders are crucial.

BDCB’s Executive Director of Capital Market Faadzilah Abu Bakar as Chair of the ACMF Deputies in her closing remarks highlighted, “We all play a pivotal role in the successful implementation of the action plan. We look forward to receiving your continuous feedback on how we can together, improve the journey towards achieving the plan and ACMF’s vision of an interconnected, inclusive and resilient ASEAN Capital Market.”

The development of the action plan in 2020 had also involved several rounds of stakeholder engagements with stock exchanges, fund managers, brokers, institutional investors and investment banks. This ensures that the action plan remains inclusive and relevant, particularly amid the new normal.