Practice Note No.1/2020 - Prohibition on Trading Blocks During Share Consolidation Exercise

28 February 2020

This Practice Note refers to the directive issued by the Securities Commission Malaysia (“SC”) on 23 August 2019 requiring holders of Capital Markets Services License for Dealing in Securities (“CMSL Holders”) to cease trading blocks on securities undergoing share consolidation exercises by 31 December 2019 (“Directive”). The SC subsequently extended the timeline for compliance up to 1 March 2020.

In view that a number of CMSL Holders have yet to be operationally ready to comply with the Directive, the SC hereby allows CMSL Holders an extension up to 15 May 2020 to comply with the Directive to facilitate CMSL Holders’ on-going efforts in ensuring operational readiness.

The level of readiness of CMSL Holders to cease trading blocks are as follow:
CMSL Holders that are operationally ready to comply with the Directive by 1 March 2020: CMSL Holders that are not operationally ready to comply with the Directive by 1 March 2020:
1.

Alliance Investment Bank Bhd

1.

Affin Hwang Investment Bank Berhad

2.

AmInvestment Bank Berhad

2.

Hong Leong Investment Bank Berhad

3.

BIMB Securities Sdn Bhd

3.

Inter-Pacific Securities Sdn Bhd

4.

CGS-CIMB Securities Sdn Bhd

4.

JF Apex Securities Berhad

5.

KAF Equities Sdn Bhd

5.

Mercury Securities Sdn Bhd

6.

Kenanga Investment Bank Berhad

6.

Malacca Securities Sdn Bhd

7.

Maybank Investment Bank Berhad

7.

PM Securities Sdn Bhd

8.

M&A Securities Sdn Bhd

8.

SJ Securities Sdn Bhd

9.

Public Investment Bank Berhad

   
10.

Rakuten Trade Sdn Bhd

   
11.

RHB Investment Bank Berhad

   
12.

TA Securities Holdings Berhad

   
13.

UOB Kay Hian Securities (M) Sdn Bhd

   
The list above does not include 9 CMSL holders that do not provide online trading services to individual investors.

This information is as of 28 February 2020.

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