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The Securities Commission Malaysia (SC) and Securities and Futures Commission (SFC) Hong Kong jointly organised a Roundtable of Regional Takeover Regulators of nine jurisdictions in Kuala Lumpur from 9 to 11 May.
The Roundtable, the first such gathering in the Asia-Pacific region of regional experts in takeover regulation, is a platform for dialogue on current issues and key areas of takeover regulation which will help to foster cooperation, the exchange of information and experiences amongst the different jurisdictions.
In welcoming fellow regulators to the first Takeover Roundtable for the Asia-Pacific region, Chairman of the SC, Datuk Ranjit Ajit Singh said the discussion will contribute to the body of knowledge and experience of regional regulators, which is an important aspect of the increasingly inter-connected regional market.
“As capital market integration in the region deepens, it is important to have takeover regulations that minimise regulatory arbitrage, reduces conflict and promote greater efficiency,” added Ranjit.
Dato’ Donald Lim, Deputy Finance Minister of Malaysia, who officiated the opening of the Roundtable, emphasised the importance of understanding new challenges and evolving takeover practices in view of increasing cross-border transactions.
“In an increasingly integrated financial market, meetings such as this are important. Capital market regulators need to work together to ensure regulations dovetail to minimise the effects of any possible arbitrage or conflicts resulting from differences between our respective regulatory frameworks. This clearly demonstrates the forward thinking nature of securities regulators in keeping up with new developments, which would of course impact how future regulations are drafted,” commented Dato’ Donald Lim.
The three-day closed-door Roundtable is attended by takeover regulators from Malaysia, Hong Kong, Australia, China, India, Japan, Pakistan, Singapore and Thailand.
