Securities Commission Malaysia
| Suruhanjaya Sekuriti Malaysia | |
 |
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| Agency overview | |
|---|---|
| Formed | 1 March 1993 |
| Jurisdiction | Malaysia |
| Headquarters | Kuala Lumpur, Malaysia |
| Agency executive |
|
| Website | www |
The Securities Commission Malaysia (Malay: Suruhanjaya Sekuriti Malaysia), abbreviated SC, a statutory body entrusted with the responsibility of regulating and systematically developing the capital markets in Malaysia.
The following is taken from the SC website and gives a brief description of the SC's activities:
The SC established on 1 March 1993 under the Securities Commission Act 1993, is a self-funding statutory body with investigative and enforcement powers. It reports to the Minister of Finance and its accounts are tabled in Parliament annually. It has the power to investigate and enforce the areas within its jurisdiction. The SC is a self-funding organisation where its income is derived from the collection of levies and application fees.
The SC's many regulatory functions include:
Underpinning all these functions is the SC's ultimate responsibility of protecting the investor. Apart from discharging its regulatory functions, the SC is also obliged by statute to encourage and promote the development of the securities and futures markets in Malaysia.
The chairperson of the commission since 1 April 2012 is Datuk Ranjit Ajit Singh. He was previously Managing Director of the SC and has over 20 years experience in the field of finance and securities regulation. He succeeded Tan Sri Zarina Anwar when she stepped down on 31 March 2012. She is the older sister of prominent activist Zainah Anwar and the daughter of Haji Anwar bin Abdul Malik the person credited with giving the main Malaysian political party its name.
The SC has a board made up of seven members appointed by the minister of finance, which includes the chairman who runs the commission. There are two managing directors who report to him. However, the managing director post was no longer there after Ranjit became the SC Chairman. Instead, the DCE (Deputy Chief Executive) posting was re-introduced in SC.
The SC is located in Bukit Kiara near National Science Centre, Kuala Lumpur.
The Securities Commission and Central Bank Malaysia established Finance Accreditation Agency(FAA) an international and independent quality assurance and accreditation body for the financial services industry in 2013.
The Central Bank of Malaysia, Bursa Malaysia and the Securities Commission of Malaysia worked closely together to introduce Electronic Share Payment facility for share transactions by using e-payment in the stock market. In April 2010, Central Bank of Malaysia, Bursa Malaysia and the Securities Commission Malaysia have also launched e-Dividend. These two initiatives were announced in the 2010 budget.
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Wikipedia