Module 1: Directors as Gatekeepers of Market Participants

Module 1: Directors As Gatekeepers of Market Participants

Duration: 0.5 days
Venue: Securities Commission Malaysia

14 October 2019


Scope of Coverage

  • Core duties of directors – fiduciary duty, duty of care, skill and diligence and other legal and regulatory expectations as specified by the extant laws including but not limited to:
    • Companies Act (Act 125)
    • Capital Market and Services Act (Act 671)
    • Anti-Money Laundering and Terrorism Financing Act (Act 613)
    • New and pending laws and rules, including Personal Data Protection Act, Competition Act, and Goods and Services Tax Act; Foreign Account Tax Compliance Act (“FATCA”) – impact, compliance requirements and implementation challenges.
  • Discussion of selected enforcement cases
  • Discussion of how the application of selected principles and recommendations of the Malaysian Code on Corporate Governance can deliver sustainable values for licensed intermediaries
  • Independent directors as value enhancers or value destroyer
  • Failure of governance and the implication on licence to operate – Case studies 

Learning Outcomes

At the end of the programme, participants will be able to:

  • Understand the high-level contextual function of the board and the directors in discharging their mandates;
  • Appraise the roles, duties, responsibilities and liabilities of directors as provided for in applicable laws relevant to licensed intermediaries;
  • Apply the relevant key principles and recommendations of the Malaysian Code on Corporate Governance to oversee the compliance and performance roles of licensed intermediaries;
  • Understand the critical functions played by independent directors in building confidence and trust for licensed intermediaries; and
  • Exercise judgement appropriately in dealing with issues of legal and governance brought to the attention of the board.