One examination on rules and regulations for futures industry – Modules 1 and 13 combined into Module 16
|With effect from 1 January 2005, individuals seeking to be licensed under the Futures Industry Act 1993 (FIA) need only sit for one examination for rules and regulations.|
Previously, individuals had to sit for two examinations relating to rules and regulations, namely Module 1 (Regulations) and Module 13 (Rules of Bursa Malaysia Derivatives Berhad). Modules 1 and 13 have been combined into one new module, known as Module 16 (Rules and Regulations of Futures and Options). Those applying for licences under the FIA from the Securities Commission (SC) must pass this Module 16 and the existing Module 14 (Futures and Options).
The streamlining of the modules would make examinations less costly and more efficient for the market participants.
In announcing this new module, the Securities Industry Development Centre (SIDC), the education and training arm of the SC as well as the one-stop examination centre for the capital markets, said that this was in line with the Capital Market Masterplan recommendation to streamline the licensing examinations for capital market professionals.
The first examination for Module 16 will be held in January 2005.
Candidates who have sat for either Module 1 or Module 13 or both before January 2005, will be given a six-month grace period from January 2005 to complete their Module 1 and/or Module 13 examinations. Alternatively they can sit for Module 16 to complete their examinations.
More information on this examination can be obtained from SIDC Corporate Services (tel: 03-62048667) and the SC website at www.sc.com.my.