In a statement today, it said that the pandemic has raised a number of specific regulatory issues and administrative challenges for market participants to comply with the SC’s regulatory reporting requirements.
“As such, the regulator is extending deadlines for market participants to comply with requirements such as regulatory filings and submissions to the SC and fulfilment of training requirements.
“The deferment of these regulatory submissions is part of the SC’s wider relief package for the capital market in support of the government’s measures to contain the spread of Covid-19,” the SC said.
Further details may be obtained via its website, https://www.sc.com.my/regulation/technical-notes-and-practice-notes/circular-to-capital-markets-services-licence-holders or by emailing [email protected] for clarification.
The SC pointed out that the capital market — a critical function of the financial services industry which has been identified as one of the essential services under the MCO — will continue to operate to support the economy during the nationwide restrictive movement period.
As part of their business continuity plans, many market participants are taking precautionary measures like splitting their team operations or working remotely from home during this period. — March 20, 2020, Bernama
