Malaysia

Securities / Derivatives

Bursa Malaysia Enhances Rules on Board Independence, Diversity

By Editors | 19/01/2022

The rule amendments limit board tenure to 12 years, require the appointment of at least one woman director, and enhance transparency on board appointments.

UOB to Acquire Citi Consumer Banking Units in Four Markets

By Manesh Samtani | 17/01/2022

The transaction is estimated to reduce UOB’s CET1 ratio by 70 basis points to 12.8 percent, which is considered not material and “well within regulatory requirements”.

BNM Proposes Rule Changes for Payment Card Industry

By Mark Johnston | 10/01/2022

The changes will address distortions and frictions in the payment card market and foster greater usage and acceptance of payment cards, BNM says.

Enforcement

Malaysia SC Charges Serba Dinamik Execs for False Disclosure

By Ranamita Chakraborty | 06/01/2022

Four executives of oil and gas engineering company Serba Dinamik have been charged for submitting a false statement to Bursa Malaysia.

Fintech / Regtech

BNM Proposes New Licensing Framework For Digital Insurers

By Sanday Chongo Kabange | 05/01/2022

Digital insurers and takaful operators should have a minimum paid-up capital of MYR 40 million during the foundational phase.

Securities / Derivatives

BNM Finalises Guidance for Wholesale Financial Market Conduct

By Mark Johnston | 04/01/2022

Market conduct risk assessments should be done at least annually, to serve as a systematic method for assessing susceptibility to misconduct and documenting mitigating actions or controls.

Securities / Derivatives

Malaysia Raises Stamp Duty on Stock Transactions

By Editors | 03/01/2022

The stamp duty on share contract notes has been raised from 0.1 percent to 0.15 percent, subject to a MYR 1,000 cap.

Market Infrastructure

BNM Revises Regulatory Framework for Money Services Businesses

By Mark Johnston | 03/01/2022

The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.

ESG / Sustainability

Malaysia, Thailand Launch Phase 2 of QR Payments Linkage

By Editors | 02/01/2022

Cross-border instant QR payments are now available for travellers between Malaysia and Thailand, including for online e-commerce transactions.