SC to facilitate distribution of capital market products via e-services platforms

The Securities Commission Malaysia (SC) announces that it will facilitate the online distribution of capital market products such as unit trusts, through e-Services platforms like e-wallet or e-payment service providers.

The Guidelines on Recognized Markets has been amended to introduce a new chapter on “e-Services platform”, which contains the registration requirements and ongoing obligations for e-Service providers.

The SC said the amendment will allow operators of e-wallet or e-payment applications to partner with Capital Markets Services Licence holders to distribute capital market products to investors.

E-wallets or e-payment operators which are currently subject to the oversight of another sectorial regulator will be required to obtain the prior approval from the said regulator before submitting their application to the SC.

In a statement, the SC said they will continue to facilitate the development of innovative digital solutions to improve access to investments for all participants of the Malaysian capital markets.

“The introduction of the e-Service platform framework will facilitate the wider distribution of capital market products through digital platforms which are already familiar to our investors,” said Syed Zaid Albar, Chairman of the SC.

The SC also stated that during its virtual press conference held on 16 April 2020, it observed an increase in the number of online trading accounts being registered.

“At the same time, there has also been a shift among licence holders towards using digital channels to distribute capital market products and services,” it said.

Interested operators will have to register with the SC as a recognised market operator
(RMO) and may submit their applications from today onwards.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Penang Government advocates talents to explore various high-quality job opportunities in the State

Penang’s strong talent pool has long been a key driver in the state’s success in attracting strategic investments, especially in selected niche...

Bursa Malaysia named ‘Best Stock Exchange for Islamic Listings’ at 14th Annual IFN Services Providers Poll

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) has been named by Islamic Finance News (“IFN”) at the recent 14th Annual IFN...

Petronas Dagangan Berhad becomes first LNG solution provider for off-grid customers in Peninsular Malaysia

Following the launch of the Virtual Pipeline System (VPS) solution via the Regasification Terminal (RGT) in Pengerang, Johor, Petronas Dagangan Berhad (PDB)...

Huawei Malaysia signs MoU with Serba Dinamik to establish Smart Campuses in Malaysia

Huawei Technologies (Malaysia) Sdn. Bhd. (Huawei) and Serba Dinamik Group Berhad (Serba Dinamik) have teamed up to explore and develop innovative digital...

Shopee finds demand for premium and branded segment multiplied by over 300 times since 2015

E-commerce platform, Shopee has seen growing confidence and comfort in purchasing premium and branded items priced RM3,000 and above in addition to...

Must read

Affordable rent-to-own scheme for the youth of B40

By Sofea Azahar, In addressing the issue of housing affordability and ownership within the youth in low-income group...

The pandemic push to pivot: The reality of a renewable energy leader

By Ko Chuan Zhen, Chief Executive Officer & Co Founder of Plus Solar, The pandemic was an acid test...

Empowering Malaysians to become informed investors one app at a time

With a goal to build 500 applications that focuses on enabling action, Reactive Labs, co-founded by George and Riza, aims to go...

Bigo Live: A growing sensation in an industry with a big appetite

The live-streaming industry has seen a massive growth in years. From the likes of Vimeo to Facebook Live, the industry has grown...