Bangkok--14 Jun--SEC
The SEC today signed a Memorandum of Understanding (MOU) with the Financial Services Commission (FSC), the capital market regulator of the Republic of Korea (South Korea), to enhance cooperation in information sharing and expand opportunities for cross-border capital market activities.
The MOU aims to strengthen relationship and promote collaboration between the two organizations in exchanging news and information on capital market supervision and development, and rendering assistance in examination to the extent permitted by each country’s laws. In addition, the MOU will pave the way for cross-country securities trading and services, which marks a major step toward future coordination in all aspects and creates linkage among capital markets in the region.
Dr. Vorapol Socatiyanurak, SEC Secretary-General, said: “This MOU emphasizes the SEC’s mission to enhance the Thai capital market’s proactive role in the global arena and is a major step toward stronger relationship between the Thai and South Korean capital markets. The SEC trusts that cooperation among market regulators will lead to cooperation among private sectors. This means more opportunities for expansion of Thai businesses and investor base in the region in preparation for the ASEAN+3 Cooperation and creation of investment alternatives for investors in both countries,”
Mr. Seok-Dong KIM, FSC Chairman, said: “I am delighted that we laid a firm foundation today for the stronger cooperation between the FSC and the SEC which celebrates its 20th anniversary of playing a vital role in the development of the Thai capital market. This MOU will serve as a turning point in deepening the breadth and depth of Korea-Thailand relationship in the overall financial market. Building on this momentum, I will make sure that we establish strategic partnership in the capital market by extending our mutual cooperation.”
The FSC is the South Korea’s consolidated financial market regulator with mandate to carry out, among others, financial policy formulation, financial supervision and market oversight, covering banking, insurance and capital market sectors. The SEC and FSC are both members of the International Organization of Securities Commissions (IOSCO) and join the IOSCO Asia-Pacific Regional Committee (APRC).