MCO 2.0: Capital Market Entities Operate As Usual With SOP

With MCO 2.0 there are changes in the way the order is being implemented this time around, while in March 2020 the lockdown was more severe with near zero movement, the 2.0 version does offer respite for businesses and for even those involved in the capital market.

Rest assured the Bursa will be active and chugging, in fact the Security Commission has issued a release stating that all entities involved licensed or registered shall operate in accordance with the applicable standard operating procedures (SOPs) issued by the authorities during the Emergency Ordinance. This follows on from the statement issued by the Minister of Finance that the capital market remains open during this period as it supports the resilience and recovery of the Malaysian economy.

As essential service providers under the services sector, capital market participants can continue to undertake and provide capital market activities and services. These entities include the approved exchanges, licensed entities (CMSL holders), registered persons, Audit Oversight Board registered auditors, self-regulatory organisations, recognised market operators (RMOs) and other capital market related entities.

The SC, as the regulatory body overseeing the capital market, is authorised to issue verification letters for CMPs to facilitate the movement of their employees during the MCO period. In essence the entities are reminded to be vigilant and take all necessary measures to minimise the risk of the spread of COVID-19 at their workplace.

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