The Complaints Management Process

The Consumer & Investor Office Department has dual functions in reaching out to the public. It handles complaints and enquiries from the public pertaining to the capital market and its players and also seeks to educate and empower investors in order to create more informed participation in the capital market.

The sections below are a brief guide on how to file a complaint or enquiry, and the general process thereafter. This should be read together with the complaints management process flow above.

What types of complaints will the SC look into?

The SC will look into any complaint relating to market misconduct or other irregularities involving activities regulated by the SC under the Capital Markets and Services Act 2007(CMSA), as set out in Schedule 2 of the CMSA. Examples include:

Improper, unfair or prohibited practices in dealing in

securities;
derivatives;
unit trusts;
or private retirement schemes.

Improper conduct by public listed company and/or its officers;
Improper conduct by a licensed person;
Regulated activities undertaken without a licence – this includes investment schemes suspected of being scams;
Market manipulation;
and Insider dealing.

How to lodge a complaint or file an enquiry

You may either:

Send a letter by post to the address below or fax to 603 6204 8991;

Investor Affairs & Complaints Department
Securities Commission Malaysia
No 3 Persiaran Bukit Kiara Bukit Kiara
50490 Kuala Lumpur

Download and complete the online complaint form on our website Complaint Form (pdf – 147KB);
Send an email to [email protected];
Contact us at 603 6204 8999;
or Walk-in to the SC building to make a complaint or enquiry.

Things to include in a complaint or enquiry

The full name and contact details of the person or the company you suspect of wrongdoing (if this is an individual, include the full name of the organisation he / she works for)
Specific details of the relevant events and dates in chronological order explaining how, why and when the matter complained about arose
Copies of all relevant documents supporting the complaint such as client agreements, contract notes, correspondences, marketing materials or any items that may help us assess your complaint
Details of when and where a critical conversation or meeting took place, who was present, and, to the best of your knowledge, what each person said

What happens after a complaint is filed?

The SC will review and evaluate each complaint in relation to regulation under the SC’s purview. It is the SC’s policy to treat all complaints received on a confidential basis. As such, SC will not disclose any sensitive information relating to the complaint to anyone, unless the information has been made public and/or the disclosure is required for regulatory action.

What do I do if I have a monetary or contractual dispute with a licensed intermediary?

The SC cannot assist in contractual, monetary or private civil disputes.

Should you have a monetary dispute not exceeding RM250,000 against a licensed intermediary or a registered person (i.e. a bank), you may be eligible for help from the Securities Industry Dispute Resolution Center (SIDREC). SIDREC is a body approved by the SC to handle monetary claims by investors against intermediaries such as banks, stockbrokers, futures brokers, private retirement scheme providers and distributors, fund managers and unit trust management companies, among others, who conduct the prescribed regulated activities under the Capital Markets and Services (Dispute Resolution) Regulations 2010, in Malaysia. The service is free to investors for claims not exceeding RM250,000. Claims above RM250,000 will require voluntary participation by both the claimant and the capital markets services provider and subject to a reasonable fee by both parties. Queries to SIDREC can be directed to:

Securities Industry Dispute Resolution Center (SIDREC)
Unit A-9-1, Level 9, Tower A
Menara UOA Bangsar

No. 5, Jalan Bangsar Utama 1

59000 Kuala Lumpur

Tel: (60)-3-2282 2280
Fax: (60)-3-2282 3855
Email: [email protected]

Website: www.sidrec.com.my

see The Complaint Management Process.pdf

Client Charter

Type of Application	Time (weeks)
New CMSL	6
New CMSRL	2

Who are licensed by the SC

The SC issues 2 types of licences namely CMSL and CMSRL for the following regulated activities:

Dealing in securities
Dealing in derivatives
Fund management
Dealing in private retirement scheme*
Advising on corporate finance
Investment advice
Financial planning

*Agents and employees of a holder of a CMSL for dealing in private retirement scheme will not be required to hold a CMSRL. However, they must be registered with the Federation of Investment Managers Malaysia (FIMM) and comply with any provision or guidelines issued by the SC.