Strengthening cooperation in stock market management in the region

On February 19, 2025, in Quang Nam, Vietnam, the APRC Regional Conference took place with sessions on supervision, inspection and enforcement in the securities market.

Overview of the meeting of APRC members in Quang Nam on February 19, 2025

These are specialized meetings dedicated to members of the Asia- Pacific Regional Committee (APRC) of the International Organization of Securities Commissions (IOSCO), to discuss the current situation, challenges, future trends, solutions to strengthen regulatory supervision and improve the effectiveness of supervision and enforcement in financial markets.

Vice Chairman of the State Securities Commission Bui Hoang Hai chaired the opening and conducted the technical meeting on inspection and enforcement in the securities market. Attending the meeting were Mr. Rodrigo Buenaventura - Secretary General of the International Organization of Securities Commissions (IOSCO) and experts from the management agencies of member countries and observers of APRC - IOSCO.

Vice Chairman of the State Securities Commission Bui Hoang Hai (center) spoke and coordinated the meeting.

Speaking at the opening of the meeting, Vice Chairman of the State Securities Commission Bui Hoang Hai said that protecting investors and ensuring effective market operations against cyber threats has become a top priority 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.

According to Vice President Bui Hoang Hai, under the impact 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 that 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.

At the technical session on securities market inspection and enforcement, experts discussed regional approaches to cooperation on technology platforms and contributions to global anti-fraud initiatives, application of technology in enforcement, sharing of enforcement priorities and trends in the region and discussed gaps, challenges and potential improvements in the legal framework for inspection and enforcement.

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 many rich 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.

The above specialized meetings aim to enhance cooperation between securities market management agencies in the Asia-Pacific region in the field of supervision, inspection and enforcement in the securities market.

In 2023, IOSCO issued cybercrime risk statements to help member agencies address this challenge. In November 2024, IOSCO announced 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://baotainguyenmoitruong.vn/tang-cuong-hop-tac-ve-quan-ly-thi-truong-chung-khoan-tai-khu-vuc-386785.html