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

Capital Market Director Programme

23
Aug 2023

9:00 am - 12:30 pm

Securities Commission Malaysia Building

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Speakers : Jas Bir Kaur | Munirah Abd Rahman

Registration closing date is 3 business days before the programme date or when all seats are fully taken. The listed price is intended for Malaysian participants only. If you are a non-Malaysian, we kindly request you to reach out to Mr. Nor Effendi Othman at EffendiO@sidc.com.my for further information.
TBC:
5 CPE

MYR 1800 *Fee is not inclusive of 8% 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

 

 

Jas Bir Kaur

 

Jas Bir Kaur has had a long career in the financial services and capital market industry. She spent just over 25 years in the Securities Commission Malaysia (SC), being involved in many areas of oversight including supervision, product development and the formulation of policies for the capital market, particularly in investment management and stockbroking.

In 2019, she was briefly attached to Value Partners Ltd, Hong Kong focusing on integration of ESG policies and procedures within the investment management process as well as various processes in client servicing and product development.

During her tenure in SC, she was involved in the supervision of the investment management industry including supervisory audits, risk assessments of fund management companies and enforcement of relevant guidelines and requirements. In addition, she oversaw the authorisation and licensing of capital market intermediaries and individuals involved in the capital market, as well as development of new policies and requirements in response to changing business models in the capital market. During her stint with the SC, she was also seconded to a leading fund management house where she had direct exposure to the operations and management of a fund management business. Her last post in the SC was as Deputy Director.

Prior to the SC, she also worked with Bank Negara Malaysia in the area of banking regulation and was seconded to the Capital Issues Committee, under the Ministry of Finance (Treasury).

Through the course of her work, Jas Bir has developed strong stakeholder engagement skills, having worked with relevant associations and capital market intermediaries to identify risks and challenges and to recommend policies and measures to develop the industry. She was also involved in change management projects within the SC involving people and organisation development.

She holds a Bachelor of Economics degree in Business Administration from University of Malaya and a Master of Science degree in Finance from Strathclyde University, Glasgow, Scotland. In addition, she has a Masters in Managerial Psychology from HELP University College, Kuala Lumpur. She has also participated in the Women Directors On boarding Programme, an initiative under National Institute of the Empowerment of Women and Malaysian Institute of Directors (MINDA) and the Ministry of Women, Family and Community Development.

She is a Certified Business and Executive Coach (Malaysian Academy of Corporate Coaches) and qualified as a Mediator under the Mediation Skills Training Programme conducted by the Bar Council of Malaysia. She is a Public Interest Director on the Board of the Federation of Investment Managers. She is also on the panel of mediators for Securities Industry Dispute Resolution (SIDREC) as well as on the directors’ registry of FIDE and Institute of Corporate Directors of Malaysia.

 

 

Munirah Abdul Rahman

 

Munirah has been attached to the Supervision Department of the Securities Commission Malaysia for the last 10 years. She oversees the planning and supervisory activities of market intermediaries within the investment management industry. In addition, she leads the department’s data analytics team which involved in determining data and analytics requirements and reporting of risk and performance for the investment management and broking industries.

Prior to joining the SC, she has approximately 10 years of experience, primarily in the audits of entities in the financial services industry. She was attached with a Big 4 accounting firm in Kuala Lumpur before moving to another Big 4 accounting firm in London. Her experience in these firms were mainly in audits of financial statements and review of internal controls of banks, securities firms and fund managers. She was a Senior Manager in internal audit function covering Commodities trading desks in an American investment bank based in London, before returning to Malaysia to join the SC.

An accountant by qualification, Munirah is a Fellow member of Association of Chartered Certified Accountants (ACCA).

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