[12861]
November 20, 2000
TO: BOARD OF GOVERNORS No. 65-00
RE: INSTITUTE CONFERENCE AND REGULATORY WORKSHOP IN ASIA
The Institute held a one-day workshop for Asian regulatory officials and a two-day
industry conference on November 7-9, 2000 in Hong Kong. The Institute organized the
workshop and conference to: (1) maintain a constructive dialogue with Asian regulators on
sound regulatory principles, and (2) provide members with an opportunity to increase their
knowledge of current regulatory developments and meet Asian industry participants and
regulators.
The workshop for regulators on Principles of Mutual Fund Regulation, held the day
before the industry conference, was designed to carry out the goal identified in the Institute’s
1998 Future Role Study of encouraging foreign regulators to adopt regulations that protect
investors and are compatible with US standards. The workshop attracted 20 securities
regulators, including several senior officials, from nine Asian countries – China, Hong Kong,
India, Korea, Malaysia, Pakistan, Singapore, Taiwan and Thailand.
The two-day industry conference -- Mutual Funds and Investment Management in Asia
-- focused on current developments and regulatory issues in providing asset management
services in Asia, including issues in organizing domestic mutual funds, providing offshore
funds, and managing pension assets in selected Asian jurisdictions. The Chairman of the
Institute’s Board of Governors, Terry Glenn, gave the keynote address. The 190 participants at
the conference came from home and foreign offices of Institute members, Asian asset
management firms, Asian regulatory agencies, and law firms and accounting firms.
Feedback on the workshop and conference from US and foreign industry participants
and regulators was very favorable, with many participants encouraging the Institute to conduct
similar programs in the future.
Matthew P. Fink
President