SECURITIES COMMISSION MALAYSIA (SC)
By MALAYA CORPORATE
The Securities Commission Malaysia (SC) (https://www.sc.com.my) was established on March 1, 1993 under the Securities Commission Act 1993 (SCA 1993). It is a self-funded statutory body working closely with developing and regulating Malaysia’s capital market. The SC mission is to “encourage the orderly development of an innovative and competitive capital market”.
The SC is directly responsible for capital market rule-making, enforcing capital market regulations, regulating all entities and persons licenced under the Capital Markets and Services Act 2007. The SC reports to the Minister of Finance and our accounts are tabled annually in Parliament.
RESPONSIBILITIES:
Developing the overall capital market and its market segments such as the equity market, bond and sukuk market, Islamic capital market, fund management, derivatives, and other market-based platforms and services
Using the capital market to promote innovation and digital services;
Creating pathways for a long-term financing ecosystem;
Through our supervisory, surveillance, and enforcement activities, we ensure the proper conduct of all market participants.
Advocating for good corporate governance practises; and
Increasing cross-border regulatory collaboration and thought leadership.
A strong focus on investors underpins all of our work. Our core mandates to regulate and ensure market growth are always carried out with the goal of protecting investors in mind, including initiatives to increase their financial and investment literacy.
FUNCTIONS:
To provide advice to the Finance Minister on all capital market issues.
To oversee all aspects of the capital market.
To ensure that the provisions of the securities laws are followed.
To regulate corporate takeovers and mergers.
To promote and regulate all aspects of fund management, such as unit trusts and private retirement schemes.
To consider and make recommendations for securities law reform.
To encourage and promote the development of Malaysia’s capital market, including research and training.
To encourage and promote self-regulation in the capital market by professional associations or market institutions.
To licence, register, authorise, approve, and supervise all persons engaged in regulated activities or providing capital market services as authorised by any securities law.
To promote and maintain the integrity of all licenced individuals, registered individuals, approved individuals, and capital market participants.
To register or recognise all auditors of public interest entities or schedule funds, as well as to exercise oversight over anyone who prepares a report on financial information of public interest entities or schedule funds, in relation to capital market activities.
To foster trust in the quality and dependability of audited financial statements in Malaysia, as well as to promote and develop an effective and robust audit oversight framework in Malaysia.
To take all reasonable steps to monitor, mitigate, and manage systemic risks associated with the capital market.
To promote and regulate corporate governance and approved accounting standards of listed corporations, as well as to establish and approve professional qualification standards for the capital market.
ACT THAT ADMINISTERED BY THE SC:
The Securities Commission Act of 1993
The Capital Markets and Services Act of 2007
The Securities Industry (Central Depositories) Act of 1991
