USD and other foreign currency denominated securities

Issuances in the regional bond market are subject to the governing laws and provisions of the markets and the rules and regulations of the exchanges where the issues are to be offered, listed and traded. For USD denominated issues, these securities are structured relative to the US Securities and Exchange Commission rules and regulations when any part of the offering or sale of the securities relates to the US or US interests.

Local currency securities

In general, the central banking authority in each market oversees all aspects of banking and finance, while securities commissions regulate the conduct of capital markets. An outline of each market's regulatory structure is available under each market home page.

Several Asian securities commissions are signatories to the International Organization of Securities Commissions (see link below).

There is consensus among regional supervisors that Basel Accord core principles would be an effective basis for further regulatory reform.

Shari'a compatible securities

Shari'a Law governs all bond issuances catering to Islamic markets. There is currently no unified Shari'a advisory council or committee advising or overseeing compliance to Shari'a principles by all markets. Each market has its own Shari'a advisory council that oversees compliance of debt securities issuance with Shari'a rules and principles.

Several regulatory and supervisory authorities in countries with Islamic markets - including Bank Negara Malaysia, Ministry of Finance of Brunei Darussalam, and Bank Indonesia - are signatories to the International Islamic Financial Market (see link below).