PETALING JAYA: The Securities Commission Malaysia (SC) announced today that it will facilitate the online distribution of capital market products such as unit trusts, through e-services platforms like e-wallet or e-payment service providers.
In a statement, the SC said its “Guidelines on Recognised Markets” has been amended to introduce a new chapter
on “e-services platform”, which contains the registration requirements and ongoing obligations for e-service providers.
“This amendment will allow operators of e-wallet or e-payment applications to partner with capital markets services licence holders to distribute capital market products to investors,” it said.
E-wallets or e-payment operators which are currently subject to the oversight of another sectorial regulator will be required to obtain the prior approval from the said regulator before submitting their application to the SC.
SC chairman Datuk Syed Zaid Albar noted that the introduction of the e-service platform framework will facilitate the wider distribution of capital market products through digital platforms which are already familiar to investors.
Interested operators will have to register with the SC as a recognized market operator (RMO) and may submit their applications from today onwards.
