Strengthening financial market supervision in the face of technological challenges

Technological advances are making instantaneous, cross-border and anonymous transactions commonplace. Therefore, increased real-time information sharing and cross-border cooperation in surveillance and enforcement are all the more important.

APRC 2025 Conference: Strengthening Financial Market Supervision in the Face of Technological Challenges

Technological advances are making instantaneous, cross-border and anonymous transactions commonplace. Therefore, increased real-time information sharing and cross-border cooperation in surveillance and enforcement are all the more important.

The Asia-Pacific Regional Subcommittee Meeting (APRC) of the International Organization of Securities Commissions (IOSCO) in 2025 - the second largest securities conference in Asia-Pacific hosted by Vietnam, is taking place from February 19 to 21, 2025.

Within the framework of the program, concurrent technical sessions on supervision, inspection and enforcement in the securities market were held, dedicated to APRC members to discuss the current situation, challenges, future trends, solutions to strengthen regulatory supervision and improve the effectiveness of supervision and enforcement in the financial market.

Speaking at the opening of the meeting, Vice Chairman of the State Securities Commission (SSC) Bui Hoang Hai said that protecting investors and ensuring effective market operations against cyber threats have become top priorities for IOSCO and the Asia-Pacific Regional Committee (APRC). IOSCO has actively cooperated with organizations such as the Bank for International Settlements (BIS), the Financial Stability Board (FSB) and the Committee on Payments and Market Infrastructures (CPMI) to issue warnings, conduct research, publish reports and establish task forces to address important issues that may impact the financial and securities markets.

Vice Chairman of the State Securities Commission Bui Hoang Hai (middle) speaks at the meeting.

According to Vice President Bui Hoang Hai, under the influence of science and technology, the regional and global financial markets are witnessing a strong transformation. However, technological advances also pose unprecedented risks and challenges to the financial market. The strong development of the Internet, new financial instruments, virtual assets, cryptocurrencies and social networking platforms have made it easy and quick for financial criminals to access a large number of investors to commit crimes. Economic crimes, from fraud and asset misappropriation to market manipulation and money laundering, are becoming more widespread and serious, affecting financial markets worldwide.

Vice President Bui Hoang Hai said technological advances are accelerating the integration of national markets into the global financial system. Regulators must adapt, use new tools, monitor methods and have a different mindset to achieve their goals. Instant, cross-border and anonymous transactions are becoming common.

“Enhancing real-time information sharing and cross-border cooperation in supervision and enforcement is important in addition to harmonizing regulatory standards,” the Vice Chairman of the SSC emphasized.

Next, under the chairmanship of Vice Chairman of the SSC Bui Hoang Hai, the technical session on inspection and enforcement in the securities market took place urgently and effectively. Experts discussed regional approaches to cooperation on technology platforms and contributions to global anti-fraud initiatives, the application of technology in enforcement, shared priorities and enforcement trends in the region, and discussed gaps, challenges and potential improvements in the legal framework for inspection and enforcement.

Along with the professional meeting on enforcement, the meeting of managers on securities market supervision chaired by Mr. Vu Chi Dung - Director of the Department of International Cooperation, SSC also attracted the attention of members, discussing a variety of contents. At the meeting, members shared many experiences on supervision methods for Virtual Asset Safe Storage - VSAP (on-site inspection and off-site supervision of VASPs) as well as identifying security issues and best practices for VASPs, sharing experiences and methods of applying information technology to serve supervision activities.

In 2023, IOSCO issued cybercrime risk statements to help member agencies address this challenge. In November 2024, IOSCO published a new roadmap to strengthen online investor protection. APRC has also established task forces in the Asia-Pacific region on fintech, sustainable finance, fraud prevention and cyberthreats.

Source: https://baodautu.vn/hoi-nghi-aprc-2025-tang-cuong-giam-sat-thi-truong-tai-chinh-truoc-thach-thuc-cong-nghe-d247965.html