Hong Kong's Securities and Futures Commission Signs Memorandum of Understanding with Malaysia's Securities Commission to Strengthen Cross-Border Regulatory Cooperation

On July 23, the Hong Kong Institute of Certified Public Accountants and the Securities Commission Malaysia signed a Memorandum of Understanding in Kuala Lumpur, Malaysia, officially establishing a strategic partnership aimed at enhancing cross-border regulatory cooperation between Hong Kong and Malaysia in the areas of audit supervision and financial reporting compliance. The Memorandum of Understanding provides a framework for consultation, information exchange, and assistance between the two parties in terms of auditor regulation and issuer financial reporting compliance, including auditor registration or recognition, inspection, investigation, inquiry, enforcement, supervision, and referrals of cases. Mr. Patrick Law, the Chairman of the Hong Kong Institute of Certified Public Accountants, stated that the Memorandum of Understanding reflects the commitment of both parties to enhancing regulatory cooperation, maintaining market integrity, and supporting the healthy development of the capital markets in both jurisdictions. Through closer collaboration in the future, the quality of financial reporting and auditing can be further improved, while enhancing the confidence of investors and other stakeholders. Datuk Syed Zaid Albar, the Chairman of the Securities Commission Malaysia, stated that the Malaysian Capital Market Masterplan 2026-2030 aims to achieve stronger regional connectivity and cross-border investments. The Memorandum of Understanding signed by the Securities Commission Malaysia and the Hong Kong Institute of Certified Public Accountants will facilitate robust cross-border cooperation, which is crucial for maintaining trust and resilience in the capital markets.