Malaysia legislation
Section 35
Section 35
(2)
Where an applicant under subsection 34(1) is an operator of a stock market or a derivatives market outside
Malaysia, the Commission may, in registering the applicant as a recognized market operator, have regard to, whether—
(a)
the applicant is already authorized to operate a stock market or derivatives market in the foreign jurisdiction;
(b)
the applicant is from a recognized and comparable jurisdiction; and
(c)
the Commission has a regulatory arrangement with the foreign supervisory authority.
(3)
Notwithstanding subsections (1) and (2), the Commission may, with the consent of the applicant, treat an application under subsection 34(1) as an application under section 8 if the Commission is of the opinion that the applicant would be more appropriately regulated as an approved stock exchange or derivatives exchange.
Duties of recognized market operator