SC Grants Regulatory Flexibilities for Market Participants
20 March 2020   |   Kuala Lumpur

The Securities Commission Malaysia (SC) today announced that it will grant flexibilities for capital market participants in meeting selected regulatory requirements, in view of Covid-19 and the implementation of the Movement Control Order (“MCO”) between 18 to 31 March 2020.

The capital market is a critical function of the financial services industry which has been identified as essential services under MCO. It will continue to operate to support the economy during the nationwide restrictive movement period. As part of their business continuity plans, many market participants are taking precautionary measures like working on split team operations or remotely from home during this period. In addition to a host of significant general business concerns, Covid-19 has raised a number of specific regulatory issues and administrative challenges for market participants to comply with the SC’s regulatory reporting requirements.

As such, the regulator is extending deadlines for market participants to comply with requirements such as regulatory filings and submissions to the SC and fulfilment of training requirements.

The SC said that the deferment of these regulatory submissions is 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.
SECURITIES COMMISSION MALAYSIA 
SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):
  1. Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
  2. Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
  3. Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group 
  4. Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC
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