|The Securities Commission Malaysia (SC) is committed to the observance and practice of the highest ethical standards in conducting business with suppliers, contractors, vendors, consultants and other relevant stakeholders. Each and every member of staff is therefore expected to comply fully with the standards outlined in our Code of Conduct, Code of Ethics and this Statement of Principles and Standards. I believe this commitment and our uncompromising adherence to the standards prescribed are core to the effectiveness of the SC as the regulator of the capital market and to ensuring our continued growth as a dependable, trusted and respected organization
The SC must demonstrate the highest level of honesty and integrity in all our dealings with stakeholders and ensure exemplary conduct of our staff. The Statement of Principles and Standards applies to all business transactions entered into by the SC. All staff as well as those who do business with us, need to fully understand the requirements of the Statement and ensure its application in all dealings and engagements with the SC.
Datuk Ranjit Ajit Singh
The purpose of the Statement of Principles and Standards is to facilitate efficient and ethical engagement between the SC and its external stakeholders. In this Statement, reference to business stakeholders includes suppliers, contractors, vendors, service providers and consultants. The Statement governs how the SC would conduct its business affairs in procuring goods and services and the SC expects its business stakeholders to emulate similar ethical principles. Notwithstanding the above, all market participants engaging with the SC are also expected to apply the ethical principles set out in this Statement.
In engaging and dealing with its stakeholders, the SC embraces the following principles:
Principle 1: Ethics and Integrity
The SC promotes and enforces a culture of integrity and compliance that reflects our mission and values. The SC’s Code of Conduct and Code of Ethics are the foundation and cornerstone which promote and guide SC staff in embracing this culture.
All SC staff shall act in an honest and ethical manner when dealing with each other, business stakeholders and other third parties, to promote trust and confidence. We recognize that lapses in integrity, however isolated, compromise such trust and confidence in the SC and undermine our effort in serving stakeholders of the Malaysian capital market and the nation.
When dealing with external parties including business stakeholders, the SC expects high standards of ethical conduct. In this regard, SC’s management is guided by a Standard Operating Procedure when handling requests for meetings from members of the public or industry. The SOP requires that meetings with members of the public be held at SC’s premises. It also stipulates circumstances when a meeting between SC’s management and members of the public or industry are discouraged or should be avoided.
In line with the SC’s commitment to promote ethics and integrity, all business stakeholders who deal with the SC are encouraged to raise any concerns they may have with regard to any wrongdoing by SC staff. Under the SC’s Internal Whistle-blowing Procedure, whistleblowers are protected. They have the assurance from the SC’s top management that they would not be disadvantaged when reporting on any matters of concern. Needless to say, whistleblowers are expected to make reports in good faith.
Principle 2: Transparency and Disclosure
Principle 3: Adherence to Client Charters
Principle 4: Maintaining Confidentiality
Principle 5: Providing a Safe Environment and Workplace for Staff
Principle 6: Environmental and Social Responsibilities
The SC is committed to integrate environmental considerations across our operations, including through the sensitive and effective management of water, energy, consumption of paper and other materials.
Principle 7: The SC’s Expectations of the People with Whom SC Does Business
The SC is committed to live by these principles and its application is underpinned by a comprehensive set of procedures to ensure our staff understand, apply and behave in accordance with these principles. We have no doubt that these principles will promote and strengthen the SC’s engagement with all its stakeholders.