Malaysia legislation
Section 3
Section 3
Subsection 15(1) of the principal Act is amended—
(a)
in paragraph (a), by substituting for the word “futures”
the word “derivatives”;
(b)
in paragraph (b), by substituting for the words “futures contracts” the word “derivatives”;
(c)
by substituting for paragraph (e) the following paragraph:
“(e) to promote and regulate all matters relating to fund management, including unit trust schemes;”;
(d)
in paragraph (g), by substituting for the word “futures”
the word “derivatives”;
(e)
in paragraph (i), by substituting for the words “trading in futures contracts, and the provision of investment advice or other services relating to securities or futures contracts” the words “dealing in derivatives, and the provision of investment advice or other services relating to securities or derivatives”;
Securities Commission (Amendment)
(f)
in paragraph (j), by substituting for the words “futures contracts” the word “derivatives”;
(g)
in paragraph (k), by substituting for the word “futures”
the word “derivatives”;
(h)
in paragraph (l), by substituting for the word “futures”
the word “derivatives”;
(i)
by substituting for paragraph (m) the following paragraph:
“(m) to license, register, authorise and supervise all persons engaging in regulated activities or providing capital market services as may be provided for under any securities law;”;
(j)
in paragraph (n), by substituting for the words “futures industries; and” the words “derivatives industries;”;
(k)
in paragraph (o)—
(i)
by inserting after the word “register” the words “or recognise”; and
(ii)
by substituting for the full stop at the end of the paragraph a semicolon; and
(l)
by inserting after paragraph (o) the following paragraphs:
“(p) to take all reasonable measures to monitor, mitigate and manage systemic risks arising from the securities and derivatives markets;
(q)
to promote and regulate corporate governance and approved accounting standards of listed corporations; and
(r)
to set and approve standards for professional qualification for the securities and derivatives markets.”.
Amendment of section 22a