ASEAN KEY DESTINATIONS
Bursa Malaysia to revamp business rules
A public consultation paper was issued by Bursa Malaysia Monday, seeking feedback on the proposed amendments to the Rules of Bursa Malaysia Securities Bhd.
In a statement today, Bursa Malaysia said the proposed revamp is aimed at facilitating greater effectiveness for market regulations and efficiency in the business conduct of securities brokers or participating organisations (PO), as they are known.
"The intent of this review is to ensure that the Exchange's Rule framework remains effective and balanced in safeguarding the interest of investors, preventing systemic risk and ensuring an orderly and fair market, whilst being facilitative of business and market development," Bursa Malaysia Chief Regulatory Officer, Selvarany Rasiah said.
Among the significant changes in the proposal are the strengthening of the PO's governance framework, enhancing framework for self-regulation by the POs and key personnel of POs registered with Bursa.
In addition, the revamp will further add clarity to its powers to regulate the market, the POs and registered persons.
At the same time, it will enhance Bursa Malaysia's investor protection framework as well through enhancements in the framework for risk management, conflicts management and the standard of conduct of POs and dealers' representatives.
Bursa Malaysia said the consultation paper can be downloaded from it's website at www.bursamalaysia.com.
According to Bursa Malaysia, consequential and other amendments to clarify the Rules of Bursa Malaysia Securities Clearing Sdn Bhd are also being proposed, and feedback is sought on these amendments as well.
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