BUSINESS

SC issues new guidelines and technical notes on investment advisory

08/12/2022 08:19 PM

KUALA LUMPUR, Dec 8 (Bernama) -- The Securities Commission Malaysia (SC) has released new guidelines to strengthen the role of investment analyst firms and their analysts as a reliable source of investment information for the public.

In a statement today, SC said the guidelines on Market Conduct and Business Practices for Investment Analysts and Their Analysts (IA Guidelines) outlined the core principles and minimum standards that must be observed by holders of a Capital Markets Service License (CMSL) and a Capital Markets Service Representative’s License (CMSRL).

“Investment analyst firms and their analysts are expected to have high standards of integrity and competence in providing research-related services to ensure the objectivity and quality of their research reports and recommendations.

“They will be given a six-month period to familiarise themselves with the IA Guidelines, which take effect on June 8, 2023,” it said.

Chairman Datuk Seri Dr Awang Adek Hussin said investment advisers played an important role in the capital market by providing valuable insight and information for investors to assess investment opportunities.

“That is why the SC expects them to exercise reasonable care and diligence in providing research-related services,” he said.

Additionally, SC said it also issued a technical note to provide details on the licensing requirements for those providing digital investment advice in line with the SC’s agenda to create a digitally inclusive ecosystem for the capital market.

“Both developments support a key thrust of the Capital Market Masterplan 3 to provide investors with better and greater access to quality investment advice and increased diversity to meet their emerging needs through a more digitally inclusive ecosystem,” it added.

-- BERNAMA



 


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