New SIDC licensing modules reduces number of examinations for dual licence applicants


The Securities Industry Development Centre (SIDC) today introduced two new licensing examination modules on securities and derivatives trading to cater for individuals who intend to be licensed as dual holders of Dealer’s Representative and Futures Broker’s Representative licences. With the introduction of the two new licensing examination modules, individuals who wish to hold dual licences need only sit for two examinations instead of four.


Previously, those seeking to be licensed as dual licence holders must obtain the Dealer’s Representative licence and the Futures Broker’s Representative licence by sitting for Module 6 (Stock Market and Securities Law) and Module 7 (Financial Statement Analysis and Asset Valuation) examinations as well as Module 14 (Futures and Options) and Module 16 (Rules and Regulations of Futures and Options) examinations respectively.


The introduction of the two new modules, Module 17: Securities and Derivatives Trading (Rules and Regulations) and Module 18: Securities and Derivatives Trading (Products and Analysis) is part of SIDC’s continuous efforts to streamline the licensing examinations for capital market professionals and to facilitate the development of the capital market.


Module 17 is a combination of Modules 6 and 16 covering market regulations, while Module 18 is a combination of Modules 7 and 14 covering product and financial knowledge. As the new modules are quite comprehensive covering two markets, the examination questions have been increased.


Table 1: Examination details of Module 17 and Module 18






















Modules


No. of questions


Time allocated


Type of Questions


Passing Mark (%)


Module 17: Securities and Derivatives Trading (Rules and Regulations)


100


2.5 hours


Multiple choice


70


Module 18: Securities and Derivatives Trading (Products and Analysis)


100


2.5 hours


Multiple choice


70


Notwithstanding the new modules, there will still be separate examinations on the securities industry and the futures industry to cater for those who want to be licensed in one specific industry, or for those who prefer to attempt the examinations separately. This provides more options for capital market intermediaries to fulfil part of their licensing requirements.


The first examination for Module 17 and Module 18 will be held in February 2006. The examination fee is RM300 per module, while the re-sitting fee is RM200 per module.


For more information on the SIDC licensing examinations and the 2006 examination schedule, please call SIDC Corporate Services at tel: 03- 6204 8667 or access from the SC website here.



SECURITIES INDUSTRY DEVELOPMENT CENTRE