Ninth Roundtable on Capital Market Reform in Asia

26-27 February 2008, Tokyo, Japan

The OECD/ADBI Ninth Roundtable on Capital Market Reform in Asia is held on 26-27 February 2008 at the Asian Development Bank Institute in Tokyo.  The Roundtable is jointly organised and sponsored by the ADB Institute and the OECD, in cooperation with the Government of Japan.

The Roundtable was established in 1999 in the aftermath of the so-called Asian financial crisis, and has annually offered a forum for discussion among Asian securities regulators, experts, practitioners, scholars and international organisations on specific topics of main interest from the viewpoint of capital market reform in Asia. 

The main topics of this year’s Roundtable are:  Ten years after: Implications of the Current Financial Market turmoil, Enhancing Regulatory Framework, Bond Markets Development, Equity Markets Development, Roles of Capital Market in Infrastructure Financing, Corporate Governance and Capital Market Developments.

Please note that participation is by invitation only.

Documentation:

• Draft Agenda
• Information Note 

Opening Remarks

• Dr. Masahiro Kawai, Dean, ADBI.
• Mr. Adrian Blundell-Wignall, Deputy Director, Directorate for Financial and Enterprise Affairs, OECD.
• Mr. Andrew Sheng, Chairman of the Roundtable.

Session 1: Ten years after: implications of the current financial market turmoil

Presentations:

• Dr. Srinivasa Madhur, Director, Office of Regional Economic Integration, ADB: Capital Market Development in Emerging East Asia: Issues and Challenges.
• Mr. Adrian Blundell-Wignall, Deputy Director, Directorate for Financial and Enterprise Affairs, OECD: The Structured Products Financial Crisis: Lessons for Asia.
  Ms. Yuko Kawamoto, Senior Adviser, McKinsey & Company: 10 years after: Implications of the current financial market turmoil.

Discussants:

• Mr. Nobuyoshi Chihara, Deputy Commissioner, Financial Services Agency, Japan: Basel II and Recent Market Developments.
• Dr. Atchana Waiquamdee, Deputy Governor, Bank of Thailand: Ten years after: Implications of the current financial market turmoil.
• Mr. Eddie Yue, Deputy Chief Executive, Hong Kong Monetary Authority.
• Mr. Akira Ariyoshi, Director, Regional Office for Asia and the Pacific, IMF.

Session 2: Enhancing Regulatory Framework

Presentations:

• Mr. Stephen Lumpkin, Principal Administrator (Structural Issues), Financial Affairs Division, Directorate for Financial and Enterprise Affairs, OECD: Regulatory Effectiveness and Efficiency.
• Mr. Andrew Sheng, Special Advisor, Chinese Banking Regulatory Commission: Mutual Recognition and Harmonization of Standards in Asia, an Overview.

Discussants

• Dr. Ahmad Fuad Rahmany, Chairman, Indonesian Capital Market and Financial Institutions Supervisory Agency.
• Mr. Michael Webb, Managing Director, Qatar Financial Centre Regulatory Authority.
• Ms. Narelle Hards, Policy Analyst, Treasury Department, Australia.

Session 3: Bond Markets Development

Presentations:

• Mr. Hans Blommestein, Head of Public Debt Management and Emerging Financial Markets Programmes, Financial Affairs Division, Directorate for Financial and Enterprise Affairs, OECD: Government bond markets in East Asia 10 years after the crisis.
• Dr. Nik Ramlah Mahmood, Senior Executive Director, Securities Commission, Malaysia: Bond Market Development in Malaysia.
• Dr. J.C. Parrenas, (Paper) APEC Business Advisory Council: Recent development under the APEC public-private sector bond market forum.

Discussants:

• Ms. Cathy Quinn, Commission Member, New Zealand Securities Commission.
• Mr. Masaaki Kaizuka, Director, Market Finance Division, Finance Bureau, Ministry of Finance, Japan: The Asian Bond markets Initiative (ADMI).

Session 4: Equity Markets Development

Presentations:

• Mr. Jaseem Ahmed, Director, Governance, Finance and Trade, Asian Development Bank: Enhancing Co-operation among South-East Asian Equity Market.
• Ms. Tipsuda Thavaramara, Assistant Secretary-General, Securities and Exchange Commission, Thailand: Interlinked ASEAN Securities Market initiatives.
• Mr. Francisco Ed. Lim, Director-President, the Philippines Stock Exchange, Inc. : Inter-linked ASEAN Securities Market Initiatives.

Discussants:

• Mr. Chen Chaw Min, Senior Principal Assistant Secretary, Ministry of Finance, Malaysia.
• Mr. Diwa Guinigundo, Deputy Governor, Bangko Sentral Ng Pilipinas.
• Mr. Nguyen Van Anh, Manager, Department of Foreign Exchange, State Bank of Viet Nam.

Session 5: Roles of Capital Market in Infrastructure Financing

Presentations:

• Dr. Worapot Manupipatpong, Director, ADBI: PPP on Infrastructure Development: Roles of Capital Market.
• Mr. Toru Hayakawa, Executive Director, UBS Securities Japan Ltd. : Emerging Capital Flows and Infrastructure Funds.

Discussants:

• Mr. Zhenying Wang, Deputy Director General, People’s Bank of China.
• Mr. Roberto Tan, Undersecretary, Department of Finance, Philippines.
• Mr. Ngoc Anh Nguyen, Deputy Director General, Ministry of Finance, Viet Nam.

Session 6:  Corporate Governance and Capital Market Developments

Presentations:

• Mr. Grant Kirkpatrick, Senior Economist, Corporate Affairs Division, Directorate for Financial and Enterprise Affairs, OECD : Corporate Governance and Capital Market Developments: emerging issues.
• Mr. Mohammad Zainal Shaari, Executive Director and Chief Operating Officer, Khazanah Nasional Berhad, Malaysia: “Governance Through Transformation”.

Discussants:

• Mr. David Knott, CEO, Dubai Financial Centre.
• Ms. Fe B. Barin, Chairperson, Securities and Exchange Commission, Philippines.