Financial Sector Assessment Program : Malaysia - IOSCO Objectives and Principles of Securities Regulation
The Securities Commission Malaysia (SC), as the supervisor of the capital markets, has developed a robust supervisory framework that exhibits high levels of implementation of the International Organization of Securities Commissions Objectives and P...
| Main Authors: | , |
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/02/18015236/malaysia-international-organization-securities-commissions-iosco-objectives-principles-securities-regulation-detailed-assessment-implementation http://hdl.handle.net/10986/16025 |
| Summary: | The Securities Commission Malaysia (SC),
as the supervisor of the capital markets, has developed a
robust supervisory framework that exhibits high levels of
implementation of the International Organization of
Securities Commissions Objectives and Principles of
Securities Regulation (IOSCO Principles) in most areas. The
SC's independence will be buttressed by some changes to
the legal provisions on removal of commission members and to
protections given to the members of the commission and to
its staff. The disclosure deadlines for issuers and their
substantial shareholders should be adjusted to reflect
international best practices. The new frameworks for
oversight of credit rating agencies (CRAs) and the
Federation of Investment Managers Malaysia (FIMM) should be
implemented in full by carrying out on-site inspections as
presently planned. At this stage in the jurisdiction's
development, consideration should also be given to putting
in place the pre-conditions that will enable the SC to ease
up gradually on the intensity of its direct involvement in
the day-to-day operations of the capital market and its participants. |
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