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PROGRAMMES - Licensing Examinations - Module Combination For Licences And Registration

It is vital for capital market professionals to have the relevant competencies to participate in the capital market. In relation to this, Capital Markets Services Representative's Licence (CMSRL) applicants and candidates for head of operations, head of compliance, compliance officers and local participants are required to pass the relevant examinations as prescribed in the Licensing Handbook.

The combination of examinations applicable for the respective regulated activities and/or candidates for head of operations, head of compliance, compliance officers and local participants are as follows:

Table 1: Combination of Examinations
Dealing in Securities

Dealing in securities

  • Applicants must pass the SC Licensing Examination: Modules 6 & 7 or 6 & 18 or 7 & 17 or 17 & 18.

Dealing in unlisted debt securities only

  • Applicants who are certified by Financial Markets Association or Persatuan Pasaran Kewangan Malaysia (PPKM) as eligible.
Trading in Futures Contracts
  • Applicants must pass the SC Licensing Examination: Modules 14 & 16 or 17 & 18 or 14 & 17 or 16 & 18.
Fund Management
  • Applicants must pass the SC Licensing Examination: Modules 9 & 10.
Advising on Corporate Finance
  • Applicants must pass the SC Licensing Examination: Modules 12 & 15 or 12 & 19 or 12, 19A & 19B.
Investment Advice
  • Applicants must pass the SC Licensing Examination: Modules 12 & 15 or 12 & 19 or 12 & 19A.
Financial Planning
  • No specific licensing examination required.

Head of operations

  • Candidates must pass the SC Licensing Examination - Modules 6 & 7 or 6 & 18 or 7 & 17 or 17 & 18.

Head of compliance and compliance officer

 Candidates must pass the SC Licensing Examination – Module 11 and the relevant modules as determined by the regulated activities of his principal:
  • Dealing in securities – Modules 6 & 7 or 6 & 18 or 7 & 17 or 17 & 18;
  • Trading in futures contracts – Modules 14 & 16 or 17 & 18 or 14 & 17 or 16 & 18; and
  • Fund management - Modules 9 & 10.Where a principal has a head of compliance and one or more compliance officers, the requirement for all the relevant modules can be satisfied collectively by all of them.

Local participant

  • Candidates must pass the SC Licensing Examination: Modules 14 & 16 or 17 & 18 or 14 & 17 or 16 & 18

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