malaysia - Banking & Finance - Notices & Directives

The Malaysian Institute of Accountants Invites Comments on the MIA Competency Framework Exposure Draft

This is to notify that the Malaysian Institute of Accountants (MIA) has approved the release of the MIA Competency Framework Exposure Draft on 21 February 2019 for distribution to members and other interested parties for comments by 10 May 2019. Circular No. MF4/2019  
Date: 13 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Dissolution of the Financial Reporting Standards Implementation Committee

This is to notify the establishment of the Malaysian Financial Reporting Standards (MFRS) Application and Implementation Committee (MAIC), a committee under the purview of the Malaysian Accounting Standards Board (MASB) and the dissolution of the Financial Reporting Standards Implementation Committee (FRSIC). Circular No. 26/2019
Date: 08 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Implementation of the New Format for the Registration Number of Business Entities Registered with the Suruhanjaya Syarikat Malaysia

This is to notify that Suruhanjaya Syarikat Malaysia (SSM) will use a new format for the registration number of business entities registered with SSM starting January 2019. The new format will replace the registration numbers for business entities registered with SSM such as companies, sole proprietors, limited liability partnerships and audit ...
Date: 03 January 2019; Type: Circular; Source: Malaysian Institute of Accountants

Policy Document on Outsourcing

This policy document sets out the scope of arrangements relevant to the outsourcing policy, and the requirements and expectations on financial institutions to maintain appropriate internal governance and outsourcing risk frameworks, including those relevant to the protection of data confidentiality. The requirements also serve to ensure the Bank&rs ...
Date: 28 December 2018; Type: Guideline; Source: Bank Negara

Guidelines for Corporate Rescue Mechanism under Division 8 Part III of the Companies Act 2016

This is to inform all accountants that the Companies Commission of Malaysia (SSM) had issued Guidelines for Corporate Rescue Mechanism under Division 8 Part III of the Companies Act 2016 pursuant to Section 20C of the Companies Commission of Malaysia 2001 on 5 December 2018. Circular No. 102/2018
Date: 26 December 2018; Type: Circular; Source: Malaysian Institute of Accountants

The Securities Commission Introduces Enhanced Disclosure Requirements for Abridged Prospectuses and Circulars

This is to inform all accountants that the Securities Commission Malaysia released the revised Prospectus Guidelines and Equity Guidelines on 14 December 2018. The amendments are effective from 13 March 2019 onwards. Circular No. 100/2018
Date: 26 December 2018; Type: Circular; Source: Malaysian Institute of Accountants

Guidelines for Corporate Rescue Mechanism under Division 8 Part III of the Companies Act 2016

This is to inform all member firms that the Companies Commission of Malaysia (SSM) had issued Guidelines for Corporate Rescue Mechanism under Division 8 Part III of the Companies Act 2016 pursuant to Section 20C of the Companies Commission of Malaysia 2001 on 5 December 2018. Circular No. MF24/2018
Date: 21 December 2018; Type: Circular; Source: Malaysian Institute of Accountants

Equity Guidelines

The Equity Guidelines are issued under section 377 of the Capital Markets Services Act and applied by the SC in considering the following proposals under section 212 of the CMSA: (a) Issues and offerings of equity securities; (b) Listings of corporations and quotations of securities on the Main Market; and (c) Proposals which result in a significan ...
Date: 14 December 2018; Type: Guideline; Source: Securities Commission

Prospectus Guidelines

The Prospectus Guidelines issued by the Securities Commission under Section 377 of the Capital Markets and Services Act 2007 (CMSA) sets out the additional disclosure requirements to be disclosed in a prospectus pursuant to Section 235(1)(f) of the CMSA, and information to be disclosed in an abridged prospectus pursuant to Section 237(2) of the CMS ...
Date: 14 December 2018; Type: Guideline; Source: Securities Commission

Bursa Malaysia Seeks Feedback on Shortening the Securities Settlement Cycle to T+2

This is to notify that Bursa Malaysia Berhad issued a consultation paper seeking public feedback on the proposed move to a shorter securities settlement cycle to two days from the current three-day cycle in order to improve operational efficiency, reducing systemic risks and aligning the clearing and settlement processes of the Malaysian capital ma ...
Date: 03 December 2018; Type: Press Release; Source: Bursa Malaysia

Consultation Paper on the Proposed Amendments to the Rules of Bursa Malaysia Securities Berhad and the Rules of Bursa Malaysia Securities Clearing Sdn Bhd in Relation to the Proposed T+2 Settlement Cycle

This Consultation Paper seeks to consult the public on the proposed migration to a T+2 settlement cycle and the proposed rule amendments to reflect this change, where relevant. Consultation Paper No. 5/2018
Date: 03 December 2018; Type: Consultation Paper; Source: Bursa Malaysia

Reissuance of Guidance Note on Combined Financial Statements

This Circular notifies all accountants that the revised Guidance Note on Combined Financial Statements approved by the Capital Market Advisory Committee and the Council is made available for members' reference. The Guidance Note was issued to promote best practices aimed at achieving the highest standards in reporting. Circular No. 95/2018
Date: 28 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

Invitation for Submission of Issues relating to 2019 Budget Proposals and other Technical and Operational Matters (Extension of Deadline)

This Circular by the Malaysian Institute of Accountants is to invite the members to submit their issues relating to the 2019 Budget Proposals, as well as other technical and operational issues along with specific detailed background to the Institute by 19 November 2018. Circular No. 90/2018
Date: 14 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

Public Response Paper on Proposed Regulatory Framework for Trustees and Custodians under Section 76A of CMSA 2007

This is to notify that the Securities Commission Malaysia (SC) had published a Public Consultation Paper (CP) seeking feedback on the SC’s proposed regulatory framework for Trustees and Custodians from 12 October to 28 November 2016. The valuable and constructive feedback and suggestions from the 24 respondents have been duly considered in th ...
Date: 19 October 2018; Type: Feedback; Source: Securities Commission

Consultation Paper on the Proposed Review of the Market Listing Requirements in Relation to Continuing Disclosure Obligations and other Amendments

This Consultation Paper seeks views and comments from the public on the proposed amendments to Bursa Malaysia Securities Berhad Main Market Listing Requirements and ACE Market Listing Requirements in relation to the continuing disclosure obligations of listed issuers. Consultation Paper No. 3/2018
Date: 28 September 2018; Type: Consultation Paper; Source: Bursa Malaysia

Consultation Paper on Interim Financial Reporting Framework under the Listing Requirements

This Consultation Paper by Bursa Malaysia invites written comments and suggestions on whether the current quarterly reporting regime should be maintained for the market and in that regard, what would be the appropriate interim reporting framework for Malaysia, on or by 30 November 2018. Consultation Paper No. 4/2018
Date: 28 September 2018; Type: Consultation Paper; Source: Bursa Malaysia

Guidelines on Implementation of Targeted Financial Sanctions relating to Proliferation Financing for Capital Market Intermediaries

These Guidelines are applicable to a relevant capital market intermediaries and their branches in Malaysia. These Guidelines provide requirements for relevant capital market intermediaries regulated under the CMSA to comply with the obligations imposed under the relevant laws.
Date: 06 April 2018; Type: Guideline; Source: Securities Commission

Consultation Paper on Proposed Review of the Main Market Listing Requirements and Rules and Directives of Bursa Malaysia Securities Berhad in Relation to Exchange-Traded Funds

This Consultation Paper seeks to consult the public on the proposed amendments to the rules that reflect various enhancements to the framework for Exchange-Traded Funds (ETF) aimed at spurring innovation and growth of our ETF industry. The written comments on the issues set out in this Consultation Paper relating to the Main Market Listing Requirem ...
Date: 09 July 2018; Type: Consultation Paper; Source: Bursa Malaysia

List of Shariah-Compliant Securities by the Shariah Advisory Council of the Securities Commission Malaysia

The Shariah Advisory Council of the Securities Commission Malaysia has approved an updated list of securities which have been classified as Shariah-compliant securities. This list of Shariah-compliant securities will take effect from 25 May 2018.
Date: 25 May 2018; Type: Statement; Source: Securities Commission

Additional Requirements for the Money Services Business Compliance Officers

This circular entrusts additional responsibilities on Money Services Business Compliance Officers to ensure that they perform their roles and responsibilities effectively in proportion to the size and scope of activities of the licensed entity which appoints them.
Date: 22 May 2018; Type: Circular; Source: Bank Negara

INDUSTRY UPDATES

New Regulation to be a Boon for Labuan Economy

LABUAN, Mar 25 (Bernama) - Labuan Business Activity Tax (Requirements for Labuan Business Activity) Regulations 2018, which requires a Labuan entity to have adequate full-time employees on the island as well as adequate amount of operating expenditure, will be a boon for the Labuan economy.

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INDUSTRY UPDATES

Chief Justice wants Bar cooperation to address Negative Perception of Judiciary

KUALA LUMPUR, Mar 22 (Bernama) - Chief Justice Tan Sri Richard Malanjum has called on the Malaysian Bar to work with the judiciary to shed the negative perception of the public towards the judicial system.

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INDUSTRY UPDATES

Pharmacists urge Government to review Poisons Act 1952

PETALING JAYA, Mar 24 (Bernama) - The Malaysian Community Pharmacy Guild (MCPG) is calling on the government to review the Poisons Act 1952 to ensure the pharmaceutical industry is in sync with innovations in technology.

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INDUSTRY UPDATES

MCMC advises Facebook, Instagram Users to change Passwords

KUALA LUMPUR, Mar 24 (Bernama) - The Malaysian Communications and Multimedia Commission (MCMC) has advised Facebook and Instagram users to change their passwords if they have been informed that their passwords are in the format which can be read by Facebook employees.

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INDUSTRY UPDATES

Malanjum keeping Mum about his Successor

KUALA LUMPUR, Mar 20 (Bernama) - Chief Justice Tan Sri Richard Malanjum, who is due for compulsory retirement in April only smiled broadly and chose to remain secretive when asked about his successor.

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INDUSTRY UPDATES

MP Noh Omar expelled from Dewan Rakyat for Three Days

KUALA LUMPUR, Mar 19 (Bernama) - Tanjung Karang MP Tan Sri Noh Omar has been expelled from the Dewan Rakyat for three days from today.

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INDUSTRY UPDATES

Selangor wants tougher Environmental Laws

SHAH ALAM, Mar 17 (Bernama) - The Selangor government wants to enforce more stringent laws to address issues related to environmental pollution in the state, said Menteri Besar Amirudin Shari.

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INDUSTRY UPDATES

Rosmah's Graft Case transferred to High Court

KUALA LUMPUR, Mar 15 (Bernama) - The High Court here today allowed the prosecution's application to transfer from the Sessions Court to the High Court the case involving two graft charges filed against Datin Seri Rosmah Mansor, who is the wife of former Prime Minister Datuk Seri Najib Tun Razak.

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INDUSTRY UPDATES

SC to facilitate Greater Investor Inclusiveness

KUALA LUMPUR, March 14 (Bernama) - Opening local corporate bonds and sukuk to retail investors who meet the requirements set are among the steps taken by the Securities Commission Malaysia (SC) to promote investors inclusiveness in the local market.

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INDUSTRY UPDATES

SC aims Further Expansion of Islamic Capital Market, says Chairman

KUALA LUMPUR, March 14 (Bernama) - The Securities Commission (SC), the regulatory body of the capital market, aim to foster growth that is premised on long-term value creation by intensifying efforts to further expand the Islamic capital market as well as the closely-linked sustainable finance segment.

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INDUSTRY UPDATES

CJ seeks to remove Parts of Hamid Sultan's Affidavit

KUALA LUMPUR, Mar 13 (Bernama) - Chief Justice Tan Sri Richard Malanjum today filed an application to remove parts of the supporting affidavit filed Court of Appeal Judge Datuk Dr Hamid Sultan Abu Backer in the lawsuit by the late Karpal Singh’s daughter, claiming that it was outrageous, insulting and an attack to the Judiciary.

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INDUSTRY UPDATES

Up to PM to shortlist Candidates for CJ's Post - Liew

KUALA LUMPUR, Mar 12 (Bernama) - The Law Minister in the Prime Minister’s Department Datuk Liew Vui Keong today said that he has no information about the candidates shortlisted to be appointed as the new Chief Justice to replace Tan Sri Richard Malanjum who will retire from the post next month.

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INDUSTRY UPDATES

Sabah helps Children without Documents through Legalization Program

KOTA KINABALU, Mar 12 (Bernama) - Children born in Sabah and categorised as foreigners even though one of their parents were local residents, will be given aid through a legalisation programme which will ensure a better future for them.

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INDUSTRY UPDATES

National Income Tax still Competitive

KUALA LUMPUR, March 11(Bernama) - The income tax in this country is still competitive compared to other nations.

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INDUSTRY UPDATES

Najib seeks Court Directive on gag Order against Media, Public

PUTRAJAYA, Mar 11 (Bernama) - Datuk Seri Najib Tun Razak wants a court directive to inform members of the public and media on what can and cannot be discussed and published pertaining to his criminal case involving SRC International Sdn Bhd funds, the Court of Appeal heard.

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