(ii) Applications |
Considered | Approved | ||
---|---|---|---|---|
2023 |
2022 |
2023 |
2022 |
|
Authorisation of collective investment schemes
|
22 222 |
40 393 |
22 22 |
40 39 |
Authorisation of private retirement funds | 4 | 16 | 4 | 16 |
Exemption/variation from guidelines | 5 | 2 | 5 | 2 |
Other applications | 204 | 315 | 20 | 30 |
Registration of prospectuses/disclosure documents | 304 | 126 | 304 | 126 |
Registration of deeds | 303 | 221 | 303 | 221 |
TOTAL | 658 | 436 | 658 | 435 |
Service |
Measure |
Target |
Results | |
---|---|---|---|---|
2023 |
2022 |
|||
Authorisation of new unit trust fund |
Decision issued within:
|
90%
|
99%
|
99%
|
Structured warrants |
2023 |
2022 |
---|---|---|
No. of eligible issuers |
7 |
7 |
No. of base prospectuses registered |
7 |
7 |
No. of supplementary prospectuses registered | 20 | 22 |
No. of term sheets registered | 1,515 | 1,456 |
Service |
Measure |
Target |
Results | |
---|---|---|---|---|
2023 | 2022 | |||
Registering a base prospectus for the offering of structured warrants |
Registration of base prospectus before the intended date of the base prospectus, upon receipt of a complete application at least 14 market days prior to the intended date of registration of the base prospectus |
100% |
100% | 100% |
Registering a supplementary base prospectus for the offering of structured warrants | Registration of supplementary base prospectus before the intended date of the supplementary base prospectus, upon receipt of a complete application at least three market days prior to the intended date of registration of the supplementary base prospectus |
100% | 100% | |
Registering term sheets for the offering of structured warrants | Registration of term sheet before the intended date of the term sheet, upon receipt of a complete application at least one market day prior to the intended date of registration of the term sheet | 100% | 100% |
Mitigating Systemic Risks And Promoting Financial Stability
Enhanced Risk Governance Framework
In 2021, the SC-wide risk governance framework was enhanced as part of an overall initiative to have an effective integrated and predictive risk surveillance to maintain regulatory agility.
The structured risk governance framework integrated the wider spectrum of risks such as technology, cyber and conduct risk at the SC’s Systemic Risk Oversight Committee (SROC) and Accounting, Market and Corporate Surveillance Committee (ACMS).
Intensified surveillance
The SC continued to intensify its surveillance of systemic risk to maintain market resilience and stability. Regular SROC engagements were held to deliberate concerns emanating from various segments across the capital market. Domestic equity and bond market, foreign fund flows and trade participation continued to be monitored closely for potential stress points.
In addition, measures and economic stimulus packages introduced by the government to weather the impact of COVID-19, market trading conduct and the financial position of listed companies were among the focus areas for discussion.
Thematic assessments
The SC also conducted thematic assessments covering investors’ fund flows, the position of firms, and policy decisions to ascertain the possible impact on the capital market. In 2021, the SC reviewed and enhanced its crisis indicators on potential emerging risks in the
capital market.
The enhanced crisis indicators provided a reference point for escalation to SROC when the identified indicators and triggers materialised and ensured prompt response to manage and prevent any issues of concern that might lead to a systemic crisis.
Joint regulatory discussions
In 2021, the SC conducted frequent joint regulatory discussions with other authorities such as Bank Negara Malaysia (BNM) and Labuan Financial Services Authority (Labuan FSA) to identify systemic risk concern areas within the financial and capital markets in Malaysia.
Monitoring of various components of the capital market
The SC continued its efforts to undertake a methodological and integrated approach to ensure any potential systemic risk was being monitored, mitigated, or managed. Figure 1 highlights the findings from the following risk assessments on the various components of the capital market.