The Securities Commission Malaysia (SC) has issued new Guidelines on Advertising for Capital Market Products and Related Services (Guidelines) to promote responsible advertising of capital markets products and services and encourage greater use of digital channels.
The guidelines effective May 4 will no longer require product issuers, Recognised Market Operators, persons undertaking regulated activities and capital market service providers to submit their advertisement materials to the SC, as long as they comply with the requirements under the Guidelines.
The new set of guidelines allows advertisers greater flexibility in using a wider range of advertising platforms, including social media, messaging applications and video streaming to promote their products and services.
“Advertisers are reminded to always present clear, fair and balanced information to investor and ensure that the language and manner of presentation do not mislead or exploit investors,” the Commission stated in a press statement.
The new set of Guidelines will supersede the existing Guidelines on Unit Trust Advertisements
and Promotional Materials and replace certain clauses under the Guidelines on Private Retirement Schemes, the Prospectus Guidelines , and the Guidelines on Compliance Function for Fund Management Companies.
Additionally, advertisers who were subjected to the Guidelines which has been superseded will need to ensure their advertisements and promotional campaigns now comply with the latest Guidelines.
“Other advertisers who will now fall within the remit of the new Guidelines will be given a three-month grace period for familiarisation and compliance,” it said.