Datuk Syed Zaid will be succeeded by Datuk Dr Awang Adek Hussin, who will assume the position on 1 June 2022.

Appointed to the role in 2018, Datuk Syed Zaid Albar has helmed the SC for nearly four years. During his tenure, Datuk Syed Zaid Albar strengthened various supervision and enforcement processes in the SC to achieve swift and effective outcomes. Many corporate governance milestones were achieved, which saw the SC extending its remit to include enforcing breach of fiduciary duties by directors of public listed companies.

Datuk Syed Zaid was instrumental in leading the institution and the capital market through the challenging period of the COVID-19 pandemic. During his leadership, the SC recalibrated its priorities to enable the regulator and capital market participants to address and respond to the impact of the pandemic while ensuring market stability and continuity. He also focused on advancing the SC’s development initiatives particularly in promoting the sustainability agenda, growing the Islamic capital market and harnessing innovation. Key to this is the release in September last year of the Capital Market Masterplan 3 (CMP3), which will set the tone and direction for the SC’s development and regulatory initiatives for the next five years.

“It is an honour and privilege for me to serve the country, and lead an institution that stands resolutely strong like the SC. I welcome the appointment of Datuk Dr Awang Adek, and wish him well in his new role as the next SC chairman,” said Datuk Syed Zaid Albar.

He added, “I would like to thank the SC’s Board, leadership team and the officers and staff of the SC. Their integrity, professionalism, and dedication were tested and proven many times as they ceaselessly worked to ensure the stability and continuity of the capital market.”

On behalf of the SC, its Board of Commissioners takes this opportunity to thank Datuk Syed Zaid for his unwavering commitment and invaluable contribution to the SC throughout his tenure.