Page 108 - SC SCAR 2023 ENGLISH Flipbook
P. 108

 Industry Dialogues
In line with the SC’s strategic objective to become a more engaging and facilitative regulator, the SC often holds regular dialogues with industry players to ensure ongoing feedback on the SC’s capital market policies and initiatives.
The SC held its annual Securities Commission Industry Dialogue (SCID) on 31 July 2023 (Fund Management Session) and on 3 August 2023 (Equity & Debt Capital Market Session and Private Market Session). The event saw over 60 capital market industry leaders encompassing investment banking, stockbroking, fund management, and private markets. The participants shared proposals and issues over a range of topics under the three broad areas of investment opportunities, funding inclusivity, and market reforms in the capital market. Apart from the initiatives announced, several other topics and issues were also raised and discussed extensively. The proposals were then reviewed to determine its respective merits before being incorporated into the SC’s business planning and developmental efforts.
Following two years of virtual meetings due to the pandemic, the 8th Brokerage Industry Consultative Committee (BICC) Meeting was held physically at the SC on 20 July 2023. The BICC was established in 2018 to provide a consultative platform between the SC, Bursa Malaysia, and brokerage industry associations such as the Association of Stockbroking Companies Malaysia (ASCM) and MIBA. It aims to collectively promote continued development and sustainability of the equities market. In the BICC Meeting, matters in relation to market vibrancy were discussed, particularly on ways to further grow and develop the capital market from the perspectives of capital market intermediation, as well as continuous upskilling and enhancing talent in the broader capital market space.
In November 2023, the SC organised two Supervisory Dialogues with CEOs of stockbroking and fund management companies respectively. During these dialogue sessions, the SC emphasised the importance of instilling good culture and strong governance in driving proper business conduct. The SC also highlighted key concerns and expectations arising from its supervisory assessments in several key areas, such as anti-money laundering and combating terrorism financing and proliferation financing, the conduct of MRs and the monitoring of MRs by intermediaries, as well as sales practices in the distribution of UTF’s and wholesale funds.

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