CMDP: Module 4 Emerging and Current Regulatory Issues In The Capital Market

Capital Market Director Programme

22
Feb 2023

9:00 am - 12:30 pm

Securities Commission Malaysia Building

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Speakers : Chari T.V. Thirumala | Anthony Fernandez

Registration closing date is 3 business days before the programme date or when all seats are fully taken.

MYR 1800 *Fee is not inclusive of 6% SST

Capital Market Director Programme (CMDP):
Module 4 Emerging and Current Regulatory Issues In The Capital Market

Programme Overview

Licensed intermediary institutions play an important systemic role in the capital market ecosystem. The growth or decline of the capital market is influenced by, among others, the success and failure of these institutions. Hence, the quality of leadership at these institutions is paramount. Kiel et al., 2012 suggest four levels of competence required of a board. They are as follows:

Industry: Experience in and knowledge of the industry in which the organisation operates
Technical: Technical/professional skills and specialist knowledge to assist with ongoing aspects of the board’s role
Governance: The essential governance knowledge and understanding all directors should possess or develop if they are to be effective board members
Behavioural: The attributes and competencies enabling individual board members to use their knowledge and skills to function well as team members and to interact with key stakeholders

 

Programme Objectives

The Capital Market Director Programme (CMD) is an exclusive platform for directors and other strategic personalities of licensed intermediary institutions to equip themselves with new and relevant knowledge, skills and abilities (basic to intermediate level). The programme is also designed to allow them to explore and deliberate on pertinent issues affecting the industry from multi-stakeholders’ perspectives.

The specific objectives of the programme are as follows:

  • Equip members of the board with knowledge and skills to provide leadership and oversight in the running of licensed intermediary institutions;
  • Assist directors of licensed intermediary institutions in becoming an effective member of the board through the latest developments in regulations and challenges, business and governance in the capital market; and
  • Promote a thorough understanding of the role of the Securities Commission in regulating a dynamic and competitive capital market.

This programme will also “strengthen intermediation standards and capabilities” as espoused by the Capital Market Masterplan 2 (CMP2).

Securities Commission Malaysia (2011) Capital Market Masterplan 2. Securities Commission, Kuala Lumpur.

 

Learning Outcomes

Module 4: Emerging and Current Regulatory Issues In The Capital Market

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

  • Understand and articulate the emerging issues potentially affecting the business of licensed intermediaries;
  • Identify and understand the red flags of potential misconducts; and
  • Exercise judgement appropriately in ensuring (i) proper conduct of licensed intermediaries and (ii) effective dealings with the regulator – the Securities Commission Malaysia.

CPD*

*SIDC CPE points are recognised by FIMM, AICB and MIA

Learning Hours

3.5 hours

 

Competencies

  1. Core – Corporate Governance, Ethic & Integrity, Risk Management (Proficiency Level 4)
  2. Foundational (Regulatory) – Capital Market Institutions, Capital Market Intermediaries, Capital Market Products Regulations (Proficiency Level 4)
  3. Foundational (Product) – Capital Market Environment (Proficiency Level 4)
  4. Behavioural (Organisation Leadership) – Strategic Thinking (Proficiency Level 4)

Target Audience

Individual 

Newly appointed directors and directors of CMSL holders

OUTLINE MODULE 4 – EMERGING AND CURRENT REGULATORY ISSUES IN THE CAPITAL MARKET

8.30 am Registration
9.00 am Recognise The Emerging Issues Potentially Affecting The Business Of Licensed Intermediaries:

  • Systemic Risk, Prudential Standards, Capital Adequacy And Stress Test;
  • Reputation Risks Arising From Counterparties And/Or Service Vendors/Providers;
  • Remuneration Driving Malpractices;
  • Not Adhering To Kyc Protocols;
  • Conflicts Of Interest;
  • Churning Customer Accounts;
  • Dealing With Customer Complaints And Alternative Dispute Resolutions;
  • Use Of Social Media (E.G. Facebook, Tik Tok And Twitter) By Market Participants And Intermediaries To Differentiate Between Advice And Guidance;
  • Cyber-Threats (Including Examples Below) And The Impact On The Capital Markets:
  • Loss Of Critical Data Or Data Leakage – Whether Caused By Unintentional Or Deliberate Act;
  • Social Engineering In Which Customers Are Manipulated Into Disclosing Confidential Information Which Could Lead To Identity Thefts, Email Frauds, And Spams; And
  • Loss Of Control Over Internet Protocol (Ip) Addresses Resulting From Distributed Denial Of Service (DDOS) Attacks.
10.30 am Coffee Break
10.45 am Understand the role of the Securities Commission Malaysia as primary stakeholder in ensuring proper conduct through sound appreciation of:

  • SC’s supervisory objectives and philosophy;
  • Eleven core principles of SC supervision –
    • Integrity
    • Skill, care and diligence
    • Supervision and control
    • Financial requirements
    • Market conduct
    • Priority to client’s interests
    • Communication with clients
    • No conflicts of interests
    • Safeguarding clients’ assets
    • Compliance culture
    • Dealing with regulators
  • Importance of strong compliance framework and culture of compliance
  • Core supervisory process;
  • Spectrum of supervision including risk posed to the intermediaries from the perspective of conduct, microprudential, AML/CFT and systemic issues; and
  • Common Supervisory Findings In The Areas Of
    • Compliance Framework And Culture;
    • Awareness And Understanding Of Regulatory Requirements;
    • Adequacy Of Resources And Controls.
  • Based On Interactive Discussions Regarding Red Flags Identify Indicators Of Possible Market Misconduct.
12.30 pm End of Programme

 

 

Chari T.V. Thirumala
Business/Financial consultant

 

Chari is a business/financial consultant supporting a local listed conglomerate, high-tech 5G infrastructure company, a global forensics & valuation company, large listed aviation infrastructure company amongst others. He is also a Board member of a few listed and non-listed entities in Malaysia and abroad.

Chari Tvt served as the Group CFO of Malaysia’s Axiata Group & Celcom Telecommunication up until December 2016. Axiata is one of the largest telecommunications groups in Asia with more than 200 million customers and a market cap of approximately US 10 B. Chari has also served as the CFO of Celcom Axiata since mid-2009 and was responsible for a series of new initiatives which helped Celcom to receive an Award for generating the highest ROIC within Malaysia.

Prior to joining the Axiata Group, he was Vice President of Sales for Asia Pacific and Japan at Hewlett Packard and had served HP for over twenty years of which he spent 4 years in Hongkong, 12 years in Singapore and 4 years in Thailand and Malaysia. In his 20 years stint in HP, the first 10 years was spent in various finance positions and the last 10 years in Sales & Marketing, Business Unit head at Asia Pac level.
In his down time , he continues to deliver a range of talks at local and international conferences, on topics like Importance of Analytics, Digital Disruptions, Digital Transformation, Technology Risk Assessment, Purpose Driven Leadership, Business Model innovation , Investment Portfolio Management etc.

He is an advisory member of a subcommittee of Malaysian Institute of Accountants . He is also a mentor for entrepreneurs under Endeavor Malaysia and an advisory member to a plastic recycling company. He sits on the advisory Board of Centre for Advanced Analytics and Data Sciences.

He holds an MBA from State University of New York at Buffalo, and is a Fellow member of the Chartered Institute of Management Accountants UK, an Associate member of Institute of Chartered Accountants and the Institute of Cost and Works Accountants of India. He is an advisory member of MIA’s Subcommittee.

 

 

 

Anthony Fernandez
Securities Commission Malaysia

 

Anthony has been in charge of the supervision of fund management intermediaries in the Malaysian Capital Market for the last 6 years. He also oversees REITs and a few broking and derivatives intermediaries.

Prior to joining the SC he has 16 years of experience in the banking and stock broking industries, specialising in internal audit and risk management. His last appointment prior to joining the SC was as the Head of Investment Bank audit in a commercial bank.

An accountant by training, Anthony is a Chartered Accountant registered with the Malaysian Institute of Accountants and is a member of the Chartered Institute of Management Accountants (UK), Chartered Global Management Accountant and CPA Australia.

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