South Asian Securities Regulators' Forum

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South Asian Securities Regulators' Forum
SAFE.jpg
Founded 2005
Headquarters Islamabad, Pakistan
Web site http://www.safe-asia.com/sasrf.php

The South Asian Securities Regulators' Forum (SASRF) was formed as an offshoot of the South Asian Federation of Exchanges (SAFE) in 2005 to facilitate more integrated securities investment between its members. SASRF members continue discussing market reforms on issues like cross-border listings but by mid-2010 little tangible progress had been made.

Background

Forming SASRF was originally proposed at a 2004 regional meeting of the International Organization of Securities Commissions as a joint project of the Securities and Exchange Commission of Pakistan (SECP) and the Securities and Exchange Board of India (SEBI).[1]The SEBP had already signed a memorandum of understanding with the Securities and Exchange Commission of Sri Lanka (SECSL) adressing similar integration issues one year earlier. The SASRF was signed in June 2005 between Pakistan, Nepal, Bangladesh and Mauritius after being proposed at SAFE's fifth annual conference held in Islamabad, joined by India later in 2005 and Sri Lanka in 2006.[2]

SASRF was established to gain the support of securities regulators in South Asia for the aims of the South Asian Federation of Exchanges (SAFE) on integrating the region's capital markets and encouraging more cross-border trade. But by 2008, regulators in member countries like Pakistan were calling on the SASRF to accelerate moves to integrate their investment markets to remain competitive with regional competitors.[3]

Membership

Key people

Former SECP Chairman Tariq Hassan was elected chairman of the SASRF at its first meeting in 2005, while Deepak Raj Kaflé, formerly chairman of the Securities Board of Nepal, was elected vice-chairman of SASRF.

References

  1. South Asia securities association under study. The World Trade Review.
  2. South Asian Securities Regulators' Forum. South Asian Federation of Exchanges.
  3. South Asian countries start discussion on cross-border listing. PTI.