These enhancements, among others, include introducing a structured and concise Prospectus Summary not longer than 10 pages at the front of prospectuses and excluding information that is already publicly available to investors. With these, investors will benefit from a more reader-friendly and less cumbersome prospectus.

The review of the guidelines was carried out following jurisdictional benchmarking and extensive consultations with key stakeholders including principal advisers, legal advisers, reporting accountants, research analysts and investors. The revisions to the Prospectus Guidelines will help ensure that a prospectus continues to serve its purpose in providing important information to facilitate investment decisions.

The revised guidelines will come into effect on 1 March 2018. However, SC would like to encourage principal advisers and issuers to adopt these revisions earlier so that investors can avail themselves of the benefits immediately. The revised Prospectus Guidelines are available at here.

SECURITIES COMMISSION MALAYSIA