17th Tokyo Roundtable on Capital Market and Financial Reform in Asia

2-3 March 2017, Tokyo, Japan

The 17^th Tokyo Roundtable on Capital Market and Financial Reform in Asia took place on 2-3 March 2017 at the Asian Development Bank Institute (ADBI) in Tokyo, Japan. This meeting was jointly organised by the ADBI and the OECD, in co-operation with the Government of Japan.

Initiated in 1999 in the aftermath of the Asian financial crisis, the Tokyo Roundtable offers a forum for regulators, policy-makers, experts, scholars, private sector and international organisations to discuss issues relating to capital market and financial reform in Asia.

DAY ONE: 2 March 2017

KEYNOTE ADDRESS:

Mr. Masatsugu Asakawa, Vice Minister of Finance for International Affairs, Japan

SESSION 1: Capital Flows in Asia: Identified Trends and Challenges in an Uncertain World with Slowing Trade and Lagging Economic Growth

Moderator: Mr. Bokhwan Yu, Deputy Dean, ADBI

Speakers:

Mr. Ranil Salgado, Assistant Director, Regional Studies Division, APD, IMF: Global Economic Outlook and Implications for Capital Flows to Asia

Mr. Ilhyock Shim, Principal Economist Representative Office for Asia and the Pacific, BIS: Asset Managers in EMEs: Implications for Capital Flows

Mr. Hirotaka Hideshima, Deputy Director-General, Financial Markets Department, BOJ: Recent Capital Flows in Asia: Comparison with “Taper Tantrum 2013”

Mr. Fan Zhai, Former Head of Asset Allocation, China Investment Corporation and Visiting Fellow, China Finance 40 Forum: Capital Flows in China: Some Recent Developments

Mr. Ephyro Luis Amatong, Commissioner, Securities and Exchange Commission, Philippines: Boosting Resilience Amid Uncertainty: Flows and The Role of Domestic Markets

Lead discussant: Mr. Stephen Lumpkin, Senior Economist, Financial Affairs Division, OECD

KEYNOTE ADDRESS:

Mr. Naoyuki Yoshino, Dean, ADBI

SESSION 2: Capital Market Developments in Asia

Moderator: Mr. Grant Spencer, Deputy Governor and Head of Financial Stability, Reserve Bank of New Zealand, and Chair of the Committee on Financial Markets, OECD

Speakers:

Mr. Serdar Celik, Senior Economist, Corporate Affairs Division, OECD: Asian Equity Markets Review: Interim Report and Methodology for Discussion

Mr. Jun Mizuguchi, Deputy Commissioner for International Affairs, FSA, Japan: Transforming the Flow of Funds in the Japanese Financial Markets

Ms. Naoko Nemoto, Financial Economist, ADBI: Bond Market Development in Emerging Asia

Mr. Thuong Quang Nguyen, Deputy Director General of Market Development Department, State Securities Commission of Viet Nam (Former GLOPAC Visiting Fellow): Development of Derivatives Market in Viet Nam

Mr. Susanta Kumar Das, Deputy General Manager, Market Regulation Department, SEBI (GLOPAC Visiting Fellow): Trends of Flow of Funds in the Indian Capital Market

Lead discussant: Ms. Yoko Ogimoto, Senior Consultant, Nomura Research Institute

DAY TWO: 3 March 2017

SESSION 3: FinTech Developments and Regulatory Responses

Moderator: Mr. Masato Miyazaki,Deputy Vice Minister for International Affairs, MoF, Japan

Speakers:

Mr. Erik Vermeulen, Professor, Tilburg University: What is the Best Regulatory Response to FinTech?

Mr. Junichi Kanda, Director, Credit System Office, Planning and Coordination Bureau, FSA, Japan: Japan FSA’s Initiative to Create a Pro-FinTech Environment

Mr. Roy Teo, Director, FinTech & Innovation Group, MAS: Globalising FinTech: Smart Financial Centre

Ms. Flore-Anne Messy, Head of Financial Affairs Division, OECD: Maximising FinTech potential : Fostering Financial Innovation while Safeguarding Financial Stability and Consumer Protection

Ms. Bihong Huang, Research Fellow, ADBI: Promoting and Regulating FinTech in Asia: Case of Peer to Peer Lending

Lead discussant: Mr. Takahiro Yasui, Head of Special Projects and Outreach Unit, OECD

SPECIAL PRESENTATION:

Task Force on Climate-related Financial Disclosures: Overview of Report and Implementation Guidance

Mr.Masaaki Nagamura, Member of TCFD, and Head, Corporate Social Responsibility, Tokio Marine Holdings

SESSION 4: Financing of Green Infrastructure Investment

Moderator: Mr. Rintaro Tamaki, Deputy Secretary-General, OECD

Speakers:

Mr. Naoyuki Yoshino, Dean, ADBI: Green Energy Development: Role of Financing

Mr. Raffaele Della Croce, Lead Manager, Long-term Investment Project, OECD: Growth, Investment and the Low-Carbon Transition : OECD Contributions, G20 and APEC

Mr. Yasuhisa Nakao, Deputy Vice Minister for International Affairs, MoF, Japan: Japan's Actions to Promote Green Finance

Mr. Luky Alfirman, President Commissioner, Indonesia Infrastructure Guarantee Fund and MoF Indonesia: Guarantee Fund for Green Infrastructure Development - A Case of Indonesia: Prospects, Opportunities and Challenges

Mr. Syed Ahmad Syed Mustafa, Chief Executive Officer, GreenTech Catalyst Sdn Bhd: Derisking Green Investments – Malaysia Perspective

Lead discussant: Mr. Peter Morgan, Senior Consultant for Research, ADBI

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