Bapepam, Thai SEC set to enhance corporation

The Jakarta Post, Jakarta

The Indonesian Capital Market Supervisory Agency (Bapepam) and Thailand's Securities and Exchange Commission (SEC Thailand) have signed a memorandum of understanding (MOU) to enhance cooperation in supervising and developing the capital markets of both countries.

The MOU was signed in Bangkok on Monday by SEC Thailand secretary-general Prasarn Trairatvorakul and Bapepam chairman Herwidayatmo, SEC Thailand said in a statement.

The statement said the MOU was aimed at strengthening the relationship and enhancing mutual cooperation between both regulatory bodies.

The MOU will facilitate the exchange of information concerning the supervision and development of capital markets, and foster assistance in investigations within the permissible extent of the law of each jurisdiction.

Both agencies believe the MOU will result in greater efficiency in the supervision of cross-border transactions. In particular, the understanding will benefit investor protection, the prevention of unfair practices and the promotion of financial innovation.

The agencies also said the MOU would eventually assure closer collaboration between the regulatory agencies in promoting the sustainable and stable growth of capital markets in the Asia- Pacific region.