1. Who is the Securities Commission?
The Securities Commission (SC) is a statutory body entrusted with the responsibility of regulating and systematically developing the Malaysia's capital markets. It has direct responsibility in supervising and monitoring the activities of market institutions and regulating all persons licensed under the Capital Markets and Services Act 2007.
2. When was the SC established?
The SC was established on 1 March 1993.
3. Which bodies regulated the capital market before the establishment of the SC?
Prior to the establishment of the SC, the capital market was regulated by six government bodies, namely:
- Capital Issues Committee (CIC), Ministry of Finance;
- Panel on Take-overs and Mergers, Prime Minister's Department;
- Foreign Investment Committee, Prime Minister's Department;
- Companies Commission of Malaysia;
- Ministry of International Trade and Industry (MITI); and
- Bank Negara Malaysia (BNM/Central Bank).
4. What is the SC's overall objective?
The SC's objective, as stated in its mission statement, is to promote and maintain fair, efficient, secure and transparent securities and futures markets and to facilitate the overall development of an innovative and competitive capital market.
5. What are the key characteristics of the SC?
The SC is a statutory body formed under the Securities Commission Act 1993 (SCA) which reports to the Minister of Finance. It has the power to investigate and enforce the areas within its jurisdiction. The SC is a self-funding organisation where its income is derived from the collection of levies and application fees. The SC is required to table its annual report in the Parliament.
6. What is the scope of the SC's regulatory functions?
The SC's many regulatory functions include:
- Registering authority for prospectuses of corporations other than unlisted recreational clubs;
- Approving authority for corporate bond issues;
- Regulating all matters relating to securities and futures contracts;
- Regulating the take-over and mergers of companies;
- Regulating all matters relating to unit trust schemes;
- Licensing and supervising all licensed persons;
- Supervising exchanges, clearing houses and central depositories;
- Encouraging self-regulation; and
- Ensuring proper conduct of market institutions and licensed persons.
Underpinning all these functions is the SC's ultimate responsibility of protecting the investor. Apart from discharging its regulatory functions, the SC is also obliged by statute to encourage and promote the development of the securities and futures markets in Malaysia.
7. What are the acts that fall under the purview of the SC?
The SC administers the following acts:
- Securities Commission Act 1993;
- Capital Markets and Services Act 2007; and
- Securities Industry (Central Depositories) Act 1991.
8. Who are the SC's Commission Members?
The SC comprises eight members appointed by the Minister of Finance, including an executive chairman and seven private and government representatives.
The current Commission Members are:
| Dato' Zarinah Anwar |
Chairman, Securities Commission |
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| Datuk Siti Hadzar Mohd Ismail |
Finance Advisor to the Ministry of Finance |
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| Datuk Wira Ismail Saleh |
Secretary General, Ministry of Plantation Industries and Commodities |
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| Dato’ Muhammad Ibrahim |
Assistant Governor, Bank Negara Malaysia |
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| Dato' Mohd Bakke Salleh |
Group Managing Director, FELDA Holdings Bhd |
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| Dato' Gumuri Hussain |
Chairman, SME Bank (Bank Perusahaan Kecil & Sederhana Malaysia Bhd) |
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| Encik Fazlur Rahman Ebrahim |
Managing Director, Prokhas Sdn Bhd |
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| Encik Francis Tan Leh Kiah |
Managing Director, Azman, Davidson & Co., Advocates & Solicitors |
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