MLY SCM Further Relief Measures

On Mar. 24, MLY SCM announced further Covid relief measures.

  • Measures aim to ease cost burden of capital market participants, complement the wider relief effort under the economic stimulus package 2020 announced in Feb.
  • Measures
  • Waive 2020 annual licensing fees on core regulated activity of capital markets services licence (CMSL) entities with profit before tax of MYR5mn or less in financial year 2019.
  • Waive 2020 annual licensing fees for all individual CMSL holders and representatives.
  • Reduce minimum continuing professional education (CPE) requirements to 10 CPE points from the current 20 CPE points, effective Jul. 1, 2020 for a period of 12 months.
  • Reduce minimum training requirements to 3 days effective Jul. 1, 2020 for 12 months.
  • One-off training subsidy for existing registered firms of audit oversight board (AOB) with less than 10 audit partners, up to MYR30,000 per firm for approved programs.

Regulators MLY SCM
Entity Types B/D; Bank
Reference PR 3/24/2020; COVID-19
Functions Compliance; Financial; Operations; Registration; Training
Countries Malaysia
Products Banking; Securities
Regions AP
Rule Type Guidance
Rule Date 3/24/2020
Effective Date 3/24/2020
Rule Id 74409
Linked to N/A
Reg. Last Update 3/24/2020
Report Section International

Last substantive update on 03/25/2020