SC Committed to Strengthening Trust and Confidence of Investors

7 November 2018 | Kuala Lumpur

The Securities Commission Malaysia (SC) today hosted over 100 regulators, academics, representatives from global and regional institutions at the annual Asian Roundtable on Corporate Governance (ARCG), organised jointly by the SC and the Organisation for Economic Cooperation and Development (OECD).

SC’s Chairman Datuk Syed Zaid Albar in his opening remarks this morning said there is growing awareness amongst governments and regulators that sustainable economic growth requires a proactive regulatory approach. To build strong businesses, regulators need to put in place an effective oversight of business activities, he said.

“It is better to ensure good governance now because it is far less costly than paying for consequences of bad governance later”, he said. “The new government is determined to restore Malaysia’s status in global public governance standings. The SC will remain vigilant in its pursuit of any potential breaches of securities law and it is my remit, and that of the SC, to discharge our duties with the utmost professional competence and highest levels of personal integrity,” he added.

He also stressed that gender diversity on board and senior management remains a key priority in the SC’s corporate governance agenda. “In order to accelerate Malaysia’s national target of 30% women on boards by 2020, the SC has introduced various initiatives to encourage a more diverse board composition. We will be working closely with the Institutional Investor Council to drive the gender diversity targets in Malaysia,” he concluded.

The ARCG was established by the OECD in 1999 and has been a valuable thought leadership platform to enable new perspectives and practices in corporate governance in the region. Participants at the two-day closed-door roundtable include high-level regulators and representatives from global and regional institutions. This is the third time for the ARCG to be held in Malaysia since 2004.

SECURITIES COMMISSION MALAYSIA