SC releases response paper to industry feedback on CPE Phase 2
The Securities Commission (SC) today released its Response Paper on Industry Feedback on the “Consultation Paper on Continuing Professional Education (CPE): Phase 2 Implementation”.
The CPE is a training programme for market professionals launched last year. Attendance of CPE courses was made a condition for licence renewal of dealer’s representatives effective 1 July 2002.
The SC targets to implement Phase 2 of CPE by the first quarter of 2003, which will cover all other licensed representatives namely futures broker’s representatives, fund manager’s representatives, investment representatives, futures fund manager’s representatives and futures trading adviser’s representatives.
To gather feedback before the implementation of Phase 2, the SC had issued a consultation paper in April 2002. The SC Response Paper issued today is the SC’s response to the feedback received from that consultation paper. Both the consultation paper and response paper are available on the SC’s website at www.sc.com.my.
“CPE underscores the serious commitment the SC places on education and training to promote market professionalism, essential in maintaining investor confidence in the profession and integrity of the markets in Malaysia”, said the SC Chairman, Datuk Ali Abdul Kadir.
“We have always emphasised a consultative approach. The constructive input and feedback from industry is invaluable. I would like to thank those that had taken time to consider our paper and submit comments,” said Datuk Ali.
Datuk Ali said the extensive industry consultation exercise was crucial to enable the SC to better understand the training needs of the various licensed representatives. He said the industry’s submissions have been carefully considered in the process of reviewing and revising the draft implementation plan of CPE Phase 2.
Parties who provided feedback are the Malaysian Derivatives Exchange and relevant industry associations including the Malaysian Association of Asset Managers (MAAM), Malaysian Futures Brokers Association (MFBA) and Malaysian Society of Financial Analysts (MSFA).
26 August 2002