Background
The ASEAN Capital Markets Forum (ACMF) is a regional coordination body that supports harmonization and capacity building among ASEAN securities regulators to promote more integrated and resilient capital markets. The Securities and Exchange Regulator of Cambodia (SERC) co-chaired the Financial Literacy Capacity Building Working Group (FLCB-WG) that organized the regional training on risk-based supervision held in Phnom Penh from 5–9 October 2026.
Risk-based supervision (RBS) is a supervisory approach that allocates supervisory attention and resources according to assessed risk levels and potential harm to investors and market integrity. RBS frameworks typically require supervisors to perform impact analysis to differentiate between high-impact and low-impact institutions and to adjust supervisory intensity and resource allocation accordingly.
Scope of Application
The five-day training targeted ASEAN securities market regulators and brought together 39 participants from ACMF member jurisdictions including Brunei Darussalam, Cambodia, Lao PDR, Indonesia, Malaysia, Singapore and Viet Nam. The program was led by experts from the Toronto Centre (TC) with support from the Asian Development Bank (ADB), and included content on supervisory methodologies applicable to the securities sector.
Key Provisions or Decisions
The course curriculum emphasized practical methodologies for implementing RBS in securities regulation. Core topics included impact analysis to distinguish between large and small financial institutions for supervisory intensity and resource allocation, principles and general approaches for effective RBS implementation in capital markets, and supervisory considerations related to digital financial services, artificial intelligence, and financial crime when assessing inherent risk, risk management, and governance within an RBS matrix.
Implications for Investors, Businesses, or Compliance
The regional training aligned with capacity-building priorities set out in the ACMF Action Plan 2026–2030 and focused on building shared supervisory methods across ASEAN regulators. The program provided participating regulators with practical exposure to RBS tools and peer experience-sharing, which contributes to a common supervisory vocabulary and approaches for securities market oversight in the region.
Official Source
Event announcement and program details were published by the Securities and Exchange Regulator of Cambodia on its public channels and identify SERC, the State Securities Commission of Vietnam (SSC), ADB and the Toronto Centre as partners for the training. Original source: SERC Facebook post (link above).
