SECURITIES COMMISSION LICENSING EXAMINATION (SCLE) FAQ
SIDC administers the following SC regulatory-related activities since its inception:
- Securities Commission Malaysia Licensing Examinations (SCLE);
- Continuing Professional Education (CPE);
The SC Licensing Examinations are designed to set a minimum standard of competencies required of individuals who wish to act as intermediaries in the Malaysian capital market.
There are 13 SC Licensing Examinations modules being offered on Dealing in Securities, Dealing in Derivatives, Fund Management, Advising on Corporate Finance, Investment Advice and Compliance
It is a requirement under Chapter 4.05 (4) of the Licensing Handbook for applicants intending to be licensed as a Capital Markets Services Representative’s License holder for certain regulated activities as set out in Table 3 of the Licensing Handbook and those who intend to be employees of registered persons who carry out the regulated activities specified in Part 1 of Schedule 4 of the Capital Markets & Services Act 2007.
It is also a requirement for a candidate for key management or as a compliance officer of a Capital Markets Services License holder – Licensing Handbook Chapter 4.06 Table 3 and 5.
SC LICENSING EXAMINATION (SCLE) FEE INCREASE
There will be a gradual increase in the SC Licensing Examinations fees effective 1 July 2020.
- Examinees currently pay RM200 to RM400 for examination fees per module – RM300 to RM500 each for Module 17 & 18;
- For re-sits, examinees are required to pay RM100 to RM400 examination fees per module – RM200 to RM500 each for Module 17 & 18;
The gradual increase are as follows on a year-to-year basis from 1 July 2020:
- Phase 1: RM300 per module in 2020 [Re-sit RM300 per module]
- Phase 2: RM400 per module for all examination registrations in 2021
- Phase 3: RM500 per module for all examination registrations in 2022
Table: Revised SCLE Fee Structure
|MODULE||DESCRIPTION||FIRST SITTING/ RE-SITTING EXAM FEE (RM)|
|Year 2020||Year 2021||Year 2022|
|6||Stock Market and Securities Law||300||400||500|
|7||Financial Statement Analysis and Asset Valuation||300||400||500|
|9||Funds Management Regulation||300||400||500|
|10||Asset and Funds Management||300||400||500|
|11||Fundamentals of Compliance||300||400||500|
|12||Investment Management and Corporate Finance||300||400||500|
|16||Rules and Regulations of Derivatives||300||400||500|
|17||Securities and Derivatives Trading (Rules and Regulations)||400||500||600|
|18||Securities and Derivatives Trading (Products and Analysis)||400||500||600|
|19||Advisory Services (Rules and Regulations)||300||400||500|
|19A||Advisory Services (Rules and Regulations) – Part A||300||400||500|
|19B||Advisory Services (Rules and Regulations) – Part B||300||400||500|
*Gradual increase to take effect on 1 July 2020, 1 July 2021 and 1 July 2022
There has not been a fee hike since 1998.
There are several factors that contributed to the decision to increase the fees:
– The current fees have remained the same since 1998
The costs of developing, managing and delivering the SCLE have continued to increase i.e. content and question writer fees, outsourcing agreements for outstation computer labs and printing costs.
– The rising costs of developing, managing and delivering SCLE
SIDC has continuously maintained the standards and improved the design and delivery of the SCLE (introduction of computer-based examinations, biometric identification system, improvised quality assurance methodologies and developing the e-learning materials e.g. e-Guides for the SCLE).
It will be increased effective 1 July 2020.
All examination candidates who will be registering their examinations on 1 July 2020 onwards. However, candidates registered for sessions cancelled due to the Movement Control Order and Covid-19 will be charged as per the previous/current fees.
|Description||Indicative Job Roles|
|6||Stock Market and Securities Law||Remisiers, Dealers Representatives, Employees of Registered Persons (ERP)|
|7||Financial Statement Analysis and Asset Valuation|
|9||Funds Management Regulations||Fund Managers, Portfolio Managers and ERPs|
|10||Asset and Funds Management|
|11||Fundamentals of Compliance||Compliance Officers, Heads of Compliance and ERPs|
|12||Investment Management and Corporate Finance||Corporate Finance Advisers, Corporate Bankers, Debt Capital Market (DCM), Research Analysts and ERPs|
|14||Derivatives||Futures Brokers, and Dealers|
|16||Rules & Regulations of Derivatives|
|17||Securities and Derivatives Trading (Rules and Regulations)|
|18||Securities and Derivatives Trading (Products and Analysis)||Remisiers and Dealers Representatives|
|19||Advisory Services (Rules and Regulations)||Corporate Finance Advisers, Corporate Bankers, Research Analysts, DCM and ERPs.|
|19A||Advisory Services (Rules and Regulations) – Part A|
|19B||Advisory Services (Rules and Regulations) – Part B|
The number of candidates and number of examinations held are demonstrated in the chart below:
|Overall Passing Rate||49%