For continuous improvement in our transparency and accountability, the SC reveals its performance in the discharge of its regulatory functions. We provide a brief synopsis on the functions and the underlying principles and regulations we refer to in the evaluation of proposals. It is with strict adherence to these principles that we discharge our regulatory functions and the results of our performance are presented below.
- The SC reviews proposals for listing and RTO on the Main Market of Bursa Malaysia Securities Bhd under section 212 of the Capital Markets and Services Act 2007 (CMSA). In this regard, it checks if the proposal is in compliance with the Equity Guidelines, and that the applicants’ directors and substantial shareholders are free from any adverse records and corporate governance issues. The SC also reviews and registers prospectuses under sections 232 and 237 of the CMSA for offerings of securities on both the Main and ACE Markets.
Private Debt Securities (PDS)
- Evaluate PDS proposals, monitoring of compliance with the securities laws, regulations and guidelines relating to issues, offers of PDS, for the purpose of achieving the SC’s objectives of promoting and maintaining an orderly, fair, efficient, secure and transparent securities market and affording adequate investor protection.
- Evaluate proposals which have offer implications under Division 2 of Part VI of the CMSA and the Malaysian Code on Take-overs and Mergers 2010 with the objective of ensuring full compliance with the laws and practice notes.
Applications for compliance with the Bumiputera equity requirements
- Analyse the effect of proposals in particular the Bumiputera equity participation, in accordance with the National Development Policy.
Collective Investment Schemes (CIS)
- Evaluate proposals relating to the issuance of securities by CIS, vetting and clearance of prospectuses and deeds, registration of prospectuses and deeds, vetting of prospectuses, fund reports, promotional materials and advertisements, to ensure the orderly regulation of the industry.
- Execute all licensing activities, monitor fit and properness of licensees, administer disciplinary actions on licensees and ensure the processes are done in a transparent, efficient and effective manner.
Time to Market
|Services Provided||Client Charter|
|Main Market IPO / RTO||60 Working Days|
|Large Capitalisation IPO||40 Working Days|
|ACE Market (IPO prospectus review & registration)||40 Working Days|
|Clearance of offer documents||21 days from date of notice of take-over offer (unless extension of time is sought)|
|Clearance of independent advice circular||10 days from date of offer document (unless extension of time is sought)|
|New||14 calendar days|
|New||42 calendar days|
|Private Debt Securities|
|PDS Guidelines and Islamic Securities Guidelines||14 working days|
|ABS Guidelines||28 working days|
|Collective Investment Schemes|
|Establishment of new fund||21 calendar days (excluding public holidays)|
|Real estate investment trust (REIT) and exchange-traded fund (ETF)||2-3 months (excluding public holidays)|
|Restricted investment scheme (RIS)||14 calendar days (excluding public holidays)|