While our financial institutions and banking supervision framework and expertise have progressed alongside global banking sector developments, the expertise required to deliver effective supervision in our securities market is not as mature. This, in the main, has to do with the developmental pace and conditions of our securities market. As a result, market surveillance has been reactive rather than preventive.
I believe that I speak not only for Fiji, but for many of our smaller fellow nations as well, in saying that the technical topics which will be addressed over the next five days will further develop our supervisory expertise and help harmonise our surveillance standards with the more developed economies. Managing and containing risks is key to our market surveillance.