SC Issues Guidance on Covid-19 Health and Safety Measures for Capital Market Participants
8 May 2020   |   Kuala Lumpur

The Securities Commission Malaysia (SC) issued guidance today for capital market participants (CMPs)1, outlining health and safety measures to be taken in planning and managing their return to operations at full capacity. This follows the Government’s announcement to restart the economy from 4 May 2020 onwards

This guidance aims to guide CMPs in developing and communicating clear internal standard operating procedures (SOP) on health and safety measures, in addition to the SOPs and directives issued by Majlis Keselamatan Negara (MKN) and various ministries to minimise the risk of Covid-19 at their workplaces, with regards to their dealings with their employees, agents and external parties.

It covers the minimum requirements and additional measures covering three key areas, namely the workplace, business operations, and dealing with external parties, to reduce the risk of spreading Covid-19 at the workplace. In the event of any inconsistencies between the guidance and any SOPs or directives from applicable authorities, the SOPs and directives from the applicable authorities shall prevail. CMPs should also monitor the developments and guidance issued by World Health Organisation, MKN, Ministry of Health, and other authorities, and where appropriate reflect these in their SOPs.

“As an essential service, the capital market has been operating throughout the Movement Control Order. However, CMPs must strengthen their safety and hygiene procedures to at least comply with the SOPs issued by various authorities to create a safe environment for their employees, agents, customers and other external parties,” said Datuk Syed Zaid Albar, SC Chairman.

CMPs should tailor their SOPs to their respective business operations and other relevant factors, and establish appropriate governance and monitoring processes, taking into consideration the complexity and size of their business operations, the number of branches and customers, governance structure and their workplace settings.

To ensure proper accountability, CMPs should designate a dedicated person or persons to collate, monitor and report compliance with the SOPs across their respective organisations, including for each branch location.

CMPs are also required to report to the SC on the status of the health measures and controls of their business operations, as and when requested. In addition, they are required to comply with other reporting requirements of the Ministry of Health and relevant authorities in relation to Covid-19.

The full guidance can be downloaded from https://www.sc.com.my/covid-19/gn-sop and queries can be directed to [email protected].

1 Covers entities and individuals that participate in the Malaysian capital market, including the approved exchanges, licensed entities (CMSL holders), registered persons, AOB registered auditors, self-regulatory organisations, recognised market operators and other capital market related entities
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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