Updates to the Circular on Further Flexibilities to Capital Markets Services Licence Holders and Registered Persons dated 16 April 2020 (relating to corporate bonds and sukuk)

24 December 2020

To Capital Markets Services Licence Holders and Registered Persons -
In recognition of the constraints and challenges faced by licensed and registered persons in complying with the timelines for certain regulatory requirements following the extension of the Movement Control Order (“MCO”), the Securities Commission Malaysia (“SC”) accorded flexibilities on 20 March 2020. The SC granted further extensions or flexibilities to licensed and registered persons on 16 April 2020, as part of the SC’s wider relief package for the capital market in support of the Government’s measures to contain the spread of COVID-19.
The following are updates relating to corporate bonds and sukuk which replace the extensions or flexibilities granted vide SC’s Circular on Further Flexibilities to Capital Markets Services Licence Holders and Registered Persons dated 16 April 2020. The extensions and flexibilities granted will no longer be accorded for these matters which are due after 31 December 2020.
B. Statistics / Data
#

Subject Matter

Extension Granted on 20 March 2020

Further Extension or Flexibility Granted on 16 April 2020

Updates as at 24 December 2020

 7.

Submission of Quarterly Report to the Trustee, Registrar of Companies and SC within one month after the end of each quarter

 

(for issuers)

N/A

Within 30 calendar days after the end of MCO (for reports due during the MCO period and up to 14 calendar days after the MCO period)

By 31 January 2021 (for reports due from 1 March 2020 to 31 December 2020)

C. LOLA-Related Notices
#

Subject Matter

Extension Granted on 20 March 2020

Further Extension or Flexibility Granted on 16 April 2020

Updates as at 24 December 2020

 2.

Submission of post-issuance notices within 7 business days from the date of issuance

 

(for issuers)

Within 30 calendar days from issuance date (for notices due 1 March - 30 April 2020)

Within 30 calendar days after the end of MCO (for notices due from 1 March 2020 - end date of MCO)

By 31 January 2021 (for notices due from 1 March 2020 to 31 December 2020)

3.

Submission of redemption notices within 7 business days from the date of redemption

(for issuers)

Within 30 calendar days from redemption date (for notices due 1 March - 30 April 2020)

Within 30 calendar days after the end of MCO (for notices due from 1 March 2020 - end date of MCO)

By 31 January 2021 (for notices due from 1 March 2020 to 31 December 2020)

D. Lodgement Obligations and Changes to Product Information
#

Subject Matter

Extension Granted on 20 March 2020

Further Extension or Flexibility Granted on 16 April 2020

Updates as at 24 December 2020

 1.

Issuance of bonds (one-off or first issuance under a programme) within 60 business days from the date of lodgement

(for issuers)

Within 90 business days from lodgement date (for lodgements made 1 March - 30 April 2020) Within 90 business days after the end of MCO (for lodgements made from 1 January 2020 - end date of MCO) Within 90 business days from 31 December 2020 (for lodgements made from 1 January 2020 to 31 December 2020)
2.

Submission of post-issuance revision to principal terms and conditions within 14 business days after the proposed revision comes into effect

(for issuers)

Within 30 calendar days after revision is effective (for notifications due 1 March - 30 April 2020) Within 30 calendar days after the end of MCO (for notifications due 1 March 2020 - end date of MCO) By 31 January 2021 (for notifications due from 1 March 2020 to 31 December 2020)
3.

Submission of copies of FAST announcements (proposed revision to principal terms and conditions) within 2 business days from date of announcement

(for principal advisers)

Within 30 calendar days from date of FAST announcements (for submissions due 1 March - 30 April 2020) Within 30 calendar days after the end of MCO (for submissions due 1 March 2020 - end date of MCO) By 31 January 2021 (for submissions due from 1 March 2020 to 31 December 2020)
4.

Submission of copies of FAST announcements (proposed upsizing of programme) within 2 business days from date of announcement

(for principal advisers)

Within 30 calendar days from date of announcement (for submissions due 1 March - 30 April 2020) Within 30 calendar days after the end of MCO (for submissions due 1 March 2020 - end date of MCO) By 31 January 2021 (for submissions due from 1 March 2020 to 31 December 2020)
Notwithstanding the above, the SC expects that any exceptional matters be promptly reported.
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