ASIFMA-AFORE EU-Asia Financial Services Dialogue

Welcome Remarks

Opening Welcome Address

• Prof. Pornanong Budsaratragoon, Secretary-General, Securities and Exchange Commission, Thailand

Opening Keynote Address

• Jean-Paul Servais, Chairman, International Organization of Securities Commissions (IOSCO)

Keynote Address

AM Panel 1

AI at Hyperscale: Opportunities and Risks in a Machine-Speed World

In the last year, the advent of Frontier AI and its agentic capabilities has accelerated an already rapidly shifting financial services landscape, presenting both opportunities and risks to the industry and regulators alike. Cybersecurity and data protection now hold equal priority as more traditional AI governance imperatives such as accountability, transparency and explainability, which themselves are also evolving. Additionally, geopolitical considerations are exacerbating information asymmetries and increasing the balkanisation of AI models and their underlying training data. How should EU and Asian regulators be navigating this environment of rising complexity across multiple dimensions in a sector where the pace of AI adoption is so fast, wide and deep, and how should they be refining their own AI risk management and suptech practices to promote confidence in the sector? This panel will seek to answer these questions, identifying where cooperation, consistency and collaboration between Asia and the EU are needed to position the regions to further influence global AI policy outcomes, capitalise on AI’s benefits and manage its risks in a machine-speed world.

Speakers:

• Tuang Lee Lim, Assistant Managing Director, Monetary Authority of Singapore

Coffee Break

Keynote Address

• Alexandra Jour-Schroeder, Deputy Director General, European Commission

AM Panel 2

Sustainability: From Ambition to Execution

As sustainability moves from policy design to implementation, both the EU and Asia are balancing decarbonisation goals with competitiveness, energy security, and economic resilience in an increasingly complex geopolitical environment. While each region is pursuing its own transition pathway, there is growing recognition that greater alignment is needed to support cross-border investment and real-world climate outcomes.

This panel will explore key developments in sustainability disclosure, transition finance, carbon markets, supply-chain transparency, and industrial decarbonisation. Speakers will discuss how the EU and Asia can enhance interoperability, reduce fragmentation, and mobilise capital to support credible transition pathways and a more sustainable and resilient global economy.

Closing Remarks

Networking Lunch

Opening Address

• Peter Stein, Chief Executive Officer, ASIFMA

Welcome Remarks

Keynote Opening Address Day 1

• Dr. Santitarn Sathirathai, Finance Vice Minister of Thailand

Keynote Presentation

The Shifting Geopolitical Landscape

A scene-setting presentation examining the geopolitical forces shaping the competition for global capital.

Speaker: To be confirmed

Panel 1

The ASEAN Opportunity: Gateway to Asia’s Growth Markets

With the conference hosted in Bangkok, this panel turns its focus to the ASEAN region and its growing significance within the global capital landscape. Panellists will explore the opportunities and challenges across Southeast Asian markets, while also considering how ASEAN serves as a bridge to the broader Indian and Chinese markets.

Speakers:

• Tuang Lee Lim, Assistant Managing Director (Capital Markets), Monetary Authority of Singapore (MAS)

• Mohammad Faiz Azmi, Executive Chairman, Securities Commission Malaysia

• Pornanong Budsaratragoon, Secretary-General, Securities and Exchange Commission, Thailand

Moderator: Rodrigo Buenaventura, Secretary General, International Organization of Securities Commissions (IOSCO)

Coffee Break

Panel 2

The CEO Perspective: Leadership Across Regional Markets

Governments across developed markets continue to increase debt issuances to finance their economies and deficits. Technology companies are raising huge amounts of cash through IPOs and debt issuances to finance their AI and data centre developments. Industrial and manufacturing companies are seeking to finance their transition to a mandatory greener production.  

Inflation is persistent across most jurisdictions and long-term interest rates keep inching higher, putting even more pressure on governments and long-term borrowers. What will then be left for emerging economies, still in need for large amounts of investments to finance the development of their infrastructures and raise their population average revenues? How will they get a slice in the allocation of global capital and at what cost?  And finally, how to unlock and put to work the huge (retail) savings reserves in this region? The panel will discuss the avenues to improve capital markets liquidity to facilitate optimal capital allocation and address the above challenges.

Speakers:

Moderator: Peter Stein, CEO, ASIFMA

Fireside Chat 1

Panel 3

The Listings Challenge: Winning the Competition for Capital

As markets around the world compete to attract issuers, investors, and trading activity, policymakers and exchanges are pursuing reforms to strengthen the competitiveness of their public markets. From revitalising IPOs and expanding retail participation to enhancing corporate governance and listing frameworks, jurisdictions are seeking ways to remain attractive in the face of growing competition from private capital markets. This panel will compare developments across APAC and Europe examining what it takes to attract international issuers, deepen liquidity, and ensure public markets remain a compelling destination for global capital. 

Speakers:

Moderator: Lyndon Chao, Managing Director and Head of Equities and Post Trade, ASIFMA

Day 1 Closing Keynote Address

Cocktail Reception

(Spire Rooftop Bar)

Welcome Remarks

Peter Stein, Chief Executive Officer, ASIFMA

Opening Address Day 2

Panel 4

Capital Markets’ Liquidity: a new paradigm 

The concept of liquidity has evolved significantly with the emergence of new players, the development of new technologies and the change in the regulatory framework since the global financial crisis. The panel will discuss the drivers of liquidity and how it affects the way financial institutions conduct their business across the region. 

Speakers:

Moderator:  Philippe Dirckx, Managing Director and Head of Fixed Income,  ASIFMA

Coffee Break

Panel 5

The Digital Assets Ecosystem Shifting Into 2nd Gear: Stage Two, Layer Two, Me Too 

With the ever-expanding universe of digital asset product initiatives now including tokenised deposits, bonds, money market funds, repo, CBDCs, stablecoins and other financial and real-world assets across a wide range of market entities, competitive tensions are becoming an increasingly relevant factor: between firms’ own digitalisation initiatives and wider ecosystem growth, between free data movement and protection, and even between financial stability and promoting onshore innovation in rulemaking. How should financial institutions navigate this complexity across products, stakeholders and geographies, and which market and regulatory strategies will optimally ensure that both individual firms and the wider ecosystem mutually benefit? This panel will explore these questions, focusing on how current competitive market dynamics can be harnessed, catalysed and translated into future growth and success.

Speakers:  

• Camille Blackburn, Director of APAC, Financial Conduct Authority (FCA)   

Moderator: Rishi Kapoor, Executive Director and Head of Technology and Operations, ASIFMA  

Fireside Chat 2

Panel 6

Competing for Global Capital in an Era of Economic Security 

As geopolitical tensions, economic security considerations, and strategic competition increasingly influence policy decisions, the global landscape for investment and capital formation is undergoing profound change. Governments are expanding investment screening regimes, reassessing market access, and introducing measures aimed at safeguarding critical industries and national interests, while investors are reevaluating portfolio allocation, market exposure, and location decisions in response to a more uncertain operating environment. Against this backdrop, financial centres are competing not only on market depth and efficiency, but also on regulatory certainty, openness, and resilience. This panel will examine how markets can continue to attract and retain global capital while balancing economic security objectives, preserving financial openness, and supporting sustainable long-term growth in an increasingly fragmented world.

Closing Remarks

Peter Stein, Chief Executive Officer, ASIFMA

Networking Lunch