PROGRAM
Tuesday, 9 April 2013
18.00-20.00 Welcome drinks
Studios 1 and 2, level 2, Four Seasons Hotel
Wednesday, 10 April 2013
9.30-10.00 Registration and coffee
10.00-10.30 Welcome and introduction
Welcome to Country
Introduction Moderator: Mr David Pilling, Asia Editor, Financial Times
Welcome The Hon Bill Shorten MP, Minister for Financial Services and Superannuation,
Minister for Employment and Workplace Relations
Mr Mark Johnson AO, Chair, Australian Financial Centre Taskforce and ABAC member
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 and review their development in the context of their role
in promoting balanced, inclusive, sustained and innovative growth. It will identify
how financial market development and connectivity in the Asia-Pacific can support
real economic growth in the region and help address global imbalances. It will also
discuss the current state of cross-border trade in financial products and services in
the region, compared to financial markets in Europe and the US.
Key issues Session to focus on the following issues:

Discuss current market developments in regional economies in the context of
promoting balanced, inclusive, sustained and innovative growth.

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
and the US.
12.00-13.30 Lunch
13.30-14.45 Session 2: Financial market development and connectivity: Defining a development
agenda for the Asia Pacific region
Synopsis
This session will draw on the discussions in session 1 to explore how policymakers
and regulators aspire to shape future market and regulatory structures to promote
financial market development and connectivity.
Key issues Session to focus on the following issues:

Discuss how greater market connectivity and regulatory convergence can be
achieved to 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 deeper integration and how these can be
mitigated.
14.45-15.00 Coffee Break
15.00-16.00 Session 3: Developing the region’s financial market infrastructure
Synopsis
This session will focus on the role of financial market infrastructure in supporting
development and connectivity.
Key issues Session to focus on the following issues:
•
Explore the current state of financial market infrastructure in emerging markets
(with respect to recording, clearing, and settling payments, securities,
derivatives and other financial transactions), as well as issues related to the
market infrastructure for lending, financial information (credit reporting and
credit rating systems) and derivatives markets.
•
Discuss the role of financial market infrastructure in enabling greater
connectivity across markets and the challenges for the region in this regard.
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16.00-17.00 Session 4: Regulatory issues in promoting Asia-Pacific financial market
development and convergence
Synopsis
This session will review the actual and potential impact of current and planned global
financial regulatory standards on the achievement of the region’s financial market
development goals and aspirations (including what positive impacts can be
strengthened, what unintended consequences need to be addressed and what gaps
need to be filled). It will also discuss how the region can contribute more effectively
to the future evolution of sound and efficient global financial regulatory standards
that will promote balanced, inclusive, sustained and innovative growth.
Key issues Session to focus on the following issues:
•
Examine the impact of financial regulations on financial markets and operations
of financial institutions.
•
Discuss the challenges faced by the region’s developing economies in designing
appropriate regulations to develop stable and efficient financial systems.
•
Identify key regulatory issues that need to be addressed to promote the
development of a robust and diversified investor base and liquid capital
markets in the region.
18.15-19.30 Harbour cruise to dinner
Campbell Cove Wharf to Kirribilli
19.30 – Dinner
Royal Sydney Yacht Squadron
Speaker Mr Glenn Stevens, Governor, Reserve Bank of Australia
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Thursday, 11 April 2013
8.00-9.30 Breakfast session 5: Regional financial policy and regulatory initiatives: What needs
to be addressed, what is being addressed, where are the gaps and opportunities for
collaboration
A conversation over breakfast: this session will discuss existing processes aimed at
developing Asia-Pacific financial markets, including those being progressed through
ASEAN and ASEAN+3, with the aim of identifying lessons learnt from those processes
and potential gaps.
9.30- 10.00 Coffee break
10.00-11.30 Session 6: Breakout group discussions: Priorities for Asia-Pacific financial market
cooperation
Synopsis
This breakout session will examine gaps in the existing framework for promoting
Asia-Pacific financial market development with respect to particular market segments
and in doing so define a possible focus for an Asia-Pacific Financial Forum.
Key issues Session to focus on the following issues with respect to particular market segments:
•
Identify major regulatory impediments, infrastructure needs or policy settings
that currently impede the development of national markets and cross-border
trade in financial products and services.
–
How can those impediments be addressed without undermining
legitimate regulatory objectives (such as financial stability and consumer
protection)?

Discuss existing efforts to encourage regional financial market connectivity and
reduce regulatory barriers to cross-border transactions and identify any key
gaps.

Examine the impact of recent international regulatory developments on
business and on regulatory convergence in the Asia-Pacific.
–
In future, how can international regulatory developments be shaped to
better reflect Asia-Pacific concerns and needs?
11.30-12.00 Coffee break
12.00- 13.00 Session 7: Asia Pacific Financial Forum: Defining the focus
Synopsis
This session follows from session 6. The breakout groups will report back on the
outcomes of their sessions, followed by a plenary discussion of priorities for AsiaPacific financial market cooperation which a new forum could assist to address.
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Key issues Session to focus on the following issues:
•
Identify and prioritise major contributions that a new forum could make in
facilitating financial market development which serves regional economic and
social needs.
13.00-14.30 Lunch
14.30-15.30 Session 8: Current regional financial cooperation in the Asia-Pacific: Implications
for structure and process of regional public-private financial market collaboration
Synopsis
This session will discuss practical but important matters associated with creating a
new forum including structure, representation, reporting and its relationship to the
APEC Finance Ministers’ Process and other ongoing regional financial cooperation
initiatives.
Key issues Session to focus on the following issues:
•
•
Examine the mechanisms which currently exist to enhance public-private
collaboration in matters of regional financial market development.
–
What does successful collaboration look like? How can it be achieved?
–
How can duplication of work being undertaken in other fora be avoided?
Discuss how the Asia-Pacific Financial Forum could be designed in terms of
structure, representation, reporting and its relationship to the APEC Finance
Ministers’ Process and other ongoing regional financial cooperation initiatives.
15.30-16.00 Coffee break
16.00-17.00 Session 9: The way forward
Synopsis
This session will summarise the key ideas and conclusions from the previous sessions’
discussions and seek consensus on the way forward.
17.00 Closing remarks by the Hon Wayne Swan MP, Deputy Prime Minister and Treasurer
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