The APEC Business Advisory Council (ABAC) convened the Asia-Pacific Financial Forum (APFF) Roundtable in Hong Kong on January 27, 2015, with the support of Nomura Securities Holdings, Inc.
The Symposium was titled “The Changing Global Regulatory Landscape: Implications for Asia-Pacific Financial Markets and the APFF Agenda”.
Key objectives of this roundtable were as follows:
- To help participants identify and better understand aspects of global financial regulatory initiatives being undertaken or considered that have significant impact, both currently and potentially, on financial markets and services in the region and the timelines for their implementation.
- To help participants obtain a better picture of ongoing capacity building initiatives in the region being carried out by relevant public sector institutions and international regulatory bodies and identify APFF activities that complement and support these initiatives.
- To help participants better understand how regional activities of firms currently or potentially subject to regulation in major global financial markets (including their transactions with local firms) will be impacted by regulatory initiatives recently introduced or being considered in these markets and what APFF can undertake and contribute in the discussions to ensure continued flow of needed financial services in the region.
Participants included experts and key representatives from the financial industry, academic and research institutions, international and domestic regulatory bodies, finance ministries, and relevant multilateral and regional organizations.
Mack participated in the 1st session, AN OVERVIEW OF APFF WORK RELATED TO FINANCIAL REGULATORY ISSUES.
Key topics for discussion were: Financial regulatory issues involved in APFF’s work on trade and supply chain finance, financial market infrastructure and cross-border portfolio flows, capital markets, derivatives and insurance and retirement income.
The panel was moderated by Mr. Hon Cheung, Regional Director – Asia, State Street.
After hearing a presentation on survey of the Regulatory Landscape by Ms Catherine Simmons, Managing Director and Head of Government Affairs, Asia Pacific, Citi,
the following panelest engaged in discussions:
- Capital Markets: Mr Mark Austen, Chief Exectutive Officer, Asia Securities Industy & Financial Markets Association (ASIFMA)
- Trade Finance and Financial Market Infrastructure: Mr. Boon-Hiong Chan, Director and Head of Market Advocacy, APAC and MENA, Deutsche Bank
- Derivatives Markets: Mr. Keith Noyes, Regional Director, Asia-Pacific, INternational Swaps and Derivatives Association, Inc. (ISDA)
- Insurance and Retirement Income: Makoto Okubo, General Manager, International Affairs, Nippon Life Insurance Company
- ,em>Perspectives from Developed Market Financial Institutions: Mr. Laurence K.L. Low, Managing Director, Office of Regulatory Affairs, J.P. Morgan
Mack made a presentation regarding the APFF Insurance and Retirement Income Work Stream and regulatory issues when promoting the long-term business roles of insurance and pensions and the development of retirement systems.
This roundtable followed the 1st APFF caucus meeting, where Mack provided a progress report on the APFF Insurance and Retirement Income Work Stream.