Download Day 1 — Wednesday, 10 April 2013 - Asia Pacific Financial Market

PRELIMINARY SYMPOSIUM PROGRAM
Day 1 — Wednesday, 10 April 2013
9.30 - 10.00
Registration and coffee
10.00 - 10.30
Welcome and introduction to purposes and objectives of the Symposium
10.30 - 12.00
Session 1: Overview of Asia-Pacific financial markets: Current state and
evolution in a global and regional context
Synopsis
This session will identify the key characteristics of, and differences between,
financial markets in the Asia-Pacific. It will focus on market developments in
China, Japan, Indonesia, South Korea, Hong Kong, Singapore and other markets
in the region.
It will also discuss the current state of cross-border trade in financial products
and services in the Asia-Pacific region, compared with financial markets in
Europe and the US.
Key issues Session to focus on the following issues:
12.00 - 13.30
•
Discuss current market developments in regional economies, and how
policymakers and regulators aspire to shape future market and
regulatory structures.
•
Highlight differences in financial market development between
economies in the region.
•
Identify the level of financial market connectivity in the Asia-Pacific and
how this differs from more homogenous, integrated financial markets in
Europe.
Lunch
13.30 – 15.00
Session 2: Financial market development and connectivity: Defining a
development agenda for the Asia Pacific region
Synopsis
This session will draw on the unique characteristics and needs of financial
markets in the Asia-Pacific region discussed in session 1, to identify how
financial market development and connectivity can support real economic
growth in the region and help address global imbalances.
Key issues Session to focus on the following issues:
•
Discuss how greater market connectivity and regulatory convergence can
strengthen the region’s economic and financial future.
–
What common goals do policy makers in the region share and how
could a regional approach help to achieve these?
•
Explore the risks associated with greater connectivity and how these can
be mitigated.
•
Identify the opportunities and challenges posed by recent global
regulatory agreements relating to financial markets, and the scope for
adopting a regional approach to these developments.
15.00 - 15.30
Coffee Break
15.30 - 17.00
Session 3: Non-regulatory impediments to operating across the Asia Pacific
region
Synopsis
This session will explore non-regulatory impediments to conducting business
across the region.
Key issues Session to focus on the following issues:
•
Explore the non-regulatory barriers which impede cross-border financial
activity.
–
•
Examine whether particular business models enable or preclude business
from operating and transacting across the Asia-Pacific.
–
19.00
Are there cultural or linguistic barriers to conducting business
across the region?
Are there best practices in this regard?
Dinner
Speaker Glenn Stevens, Governor, Reserve Bank of Australia
Day 2 — Thursday, 11 April 2013
8.00 - 9.30
Breakfast
Guest speaker
9.30 - 10.00
Coffee break
10.00 - 11.00
Session 4A:
Regulatory impediments to Asia-Pacific financial market development
Synopsis
This session will identify regulatory impediments to greater financial market
connectivity in the Asia-Pacific region, and examine existing initiatives to reduce
these barriers.
Key issues Session to focus on the following issues:
•
Identify major regulatory impediments that currently impede
cross-border trade in financial products and services.
–
•
Discuss existing efforts to encourage regional financial market
connectivity and reduce regulatory barriers to cross-border transactions.
–
What are the key challenges associated with these processes?
•
Are there aspects of current regulatory frameworks seen in regional
economies that do encourage greater connectivity? Can and how would
those features be encouraged across jurisdictions?
•
Examine the impact of recent international regulatory developments on
business and on regulatory convergence in the Asia-Pacific.
–
11.00 - 12.00
How can those impediments be addressed without undermining
legitimate regulatory objectives (such as financial stability and
consumer protection) — in banking, insurance, wealth management
and securities markets?
In future, how can international regulatory developments be
shaped to better reflect Asia-Pacific concerns and needs?
Session 4B: Breakaway groups
The breakaway discussions will focus on existing impediments to greater
financial market connectivity in the region with respect to specific market
segments, and how those impediments can be overcome to promote greater
convergence. Discussions will also address whether there are particular
government or non-government initiatives that are encouraging greater
connectivity, and how those arrangements can be promoted across
jurisdictions.
12.00 – 13.30
Lunch
13.30 - 14.30
Breakaway group leaders report on morning discussions
14.30 – 16.00
Session 5: Influencing the shape of policy and regulatory developments
Synopsis
This session will explore the proposal put forward by the APEC Business
Advisory Council at the APEC Finance Ministers Meeting in Moscow on the
creation of an Asia Pacific Financial Forum to strengthen and promote regional
financial architecture.
Key issues Session to focus on:
•
Discuss the proposal to create an Asia Pacific Financial Forum to enhance
regional public-private collaboration and complement various ongoing
regional initiatives to help the region develop sound, efficient and
connected financial markets.
–
•
What mechanisms currently exist to enhance public-private
collaboration in matters of regional financial market development?
What role would an APFF play in promoting greater regional
financial market connectivity and shaping international regulatory
policy developments? How could duplication of work being
undertaken in other fora be avoided?
Identify major contributions that an APFF could make in facilitating
financial market development which serves regional economic and social
needs.
ABAC will report to APEC Finance Ministers on the outcomes of this discussion
together with a recommendation on whether to establish an APFF.
16.00 – 16.30
Coffee break
16.30 - 17.30
Session 6: Policy discussion
This session will identify the key findings from the previous sessions’
discussions.
Closing Remarks by the Hon. Wayne Swan MP, Deputy Prime Minister and
Treasurer