Securities Industry Development Corporation (SIDC) has recently conducted a review of Module 16: Rules and Regulations of Futures and Options (M16) and Module 14: Futures and Options (M14) as part of our efforts to ascertain the validity, reliability and fairness of the SCLE. The objective of the review is to ensure the continuous maintenance of the high quality, standards and effectiveness of the SCLE and align the SCLE to the Industry Competency Framework which was rolled out by SIDC in July 2017.
M16 and M14 are the SCLE modules to be passed by individuals intending to apply for a Capital Markets Services Representative’s Licence (CMSRL) to carry on the regulated activity of dealing in derivatives or intend to hold the position of Compliance Officer in a firm which is a holder of a Capital Markets Services Licence (CMSL) for carrying on the business of dealing in derivatives.
As a result of the review, changes to the M16 and M14 are as below:
1. Change of name for M16 and M14
In an effort to streamline the name of M16 and M14 with the regulated activity as defined in the Capital Markets & Services Act 2007, effective 2 January 2018, SIDC will be renaming the modules as follows:
Module 16: Rules and Regulations on DerivativesModule 14: Derivatives
2. Additional changes to Module 16: Rules and Regulations on Derivatives
Effective 2 January 2018, the Module 16: Rules and Regulations on Derivatives (revised M16) shall comprise 60 multiple-choice questions to be completed within 90 minutes. The passing mark for the revised M16 nevertheless remains the same at 70%. Candidates intending to sit for the examination from 2 January 2018 onwards must refer to the study outline applicable from ‘January to June 2018 (Issued in November 2017)’ to prepare for the examination. Those who have passed the M16 SCLE prior to 2 January 2018 will not be affected by these changes.
There are no changes to the syllabus and reading materials for the revised M16. Nevertheless, candidates are strongly advised to refer to the study outline applicable from ‘January to June 2018 (Issued in November 2017)’ to prepare for the examination.
For more information on the SC Licensing Examinations and the examination schedule, please contact SIDC’s Customer Service & Events at Tel: 03-6204 8625/8665 or log on to the SIDC website at www.sidc.com.my.