Malaysia

Structural Regulation

Malaysia Seeks Licensing Regime for Virtual Banks by Year-End

By Editors | 29/03/2019

Though discussions are still in the preliminary stages, Malaysia’s central bank is looking to publish its requirements for virtual bank licences by the end of the year.

Anti-Money Laundering

Securities Commission Malaysia Issues Show-cause Notice to Goldman

By Editors | 15/03/2019

Malaysia’s securities regulator has reportedly issued a show-cause notice to Goldman Sachs, assumed to be in connection with the multi-billion dollar 1MDB scandal.

Cryptocurrency

SC Orders Half of Malaysia’s Digital Asset Exchanges to Close

By Editors | 11/03/2019

According to a notice from Malaysia’s Securities Commission, 21 of the country’s 43 digital asset exchanges will be forced to close after they failed to register by the 1 March deadline.

Tokenisation

Malaysia Consults on Frameworks for ICOs, Property Crowdfunding

By Editors | 08/03/2019

The ICO framework covers issuer eligibility, transparency in disclosures, and utilisation of proceeds. The property crowdfunding framework was first announced in Budget 2019.

Cybersecurity

Malaysia to Introduce Technology Risk Policy in June – Report

By Editors | 25/02/2019

BNM plans to introduce its policy on technology risk management in June, providing guidelines for financial institutions to combat the rising incidence of cybercrime.

Cryptocurrency

SC Malaysia Includes Digital Assets in ‘Recognised Market’ Guidelines

By Editors | 01/02/2019

Operators of electronic platforms for digital assets have until 1 March to submit an application to be formally recognised by the Securities Commission as market operators.

Supervision & Enforcement

UPDATED – Malaysia SC Fines Deloitte for 1MDB-Linked Auditing Breaches

By Editors | 31/01/2019

SC says Deloitte failed to immediately report irregularities which may have had a material effect on the ability of a 1MDB unit to repay bondholders. Deloitte is seeking a review of the decision.

Trading & Investment

Affin Hwang, Bursa Malaysia Launch Retail SBL Facility

By Editors | 21/01/2019

Affin Hwang Investment Bank and Bursa Malaysia have formally launched a securities borrowing and lending facility for retail investors.

Cryptocurrency

Malaysia Restricts Crypto Activity Until New Guidelines in Place

By Manesh Samtani | 17/01/2019

Crypto exchange operators are prohibited from accepting new clients and ongoing ICO projects must return all client funds, until the securities regulator is ready to formally authorise their activities.