KUALA LUMPUR, Feb 19 (Bernama) - Bank Negara Malaysia (BNM) will be launching its Risk Management in Technology policy in June this year to provide guidelines, especially for financial institutions, to combat the rise in cybercrime. CyberSecurity Malaysia chief executive officer Datuk Amirudin Abdul Wahab said more than 10,000 cases of cybercr ...
Date: 19 February 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 31 (Bernama) - Five Colors Technologies Ltd has announced that new cryptocurrency, Five Colors Coin (FCC), is to become e-sports money and will be listed on CoinBene with the initial exchange offering (IEO) carried out today.
Date: 31 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 31 (Bernama) - The Securities Commission (SC) has added a new chapter in the Guidelines on Recognised Markets to require digital asset platform operators to be registered as a recognised market operator. In a technical briefing to the media today, the SC said the new framework is part of its efforts to promote innovation whil ...
Date: 31 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 30 (Bernama) - Bursa Malaysia Bhd has appointed Datuk Shireen Ann Zaharah Muhiudeen as public interest director and non-executive chairman to succeed Tan Sri Amirsham A Aziz, effective March 1, 2019.
Date: 30 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 30 (Bernama) - The Securities Commission Malaysia (SC) has reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4 billion sukuk murabahah programme issued by Bandar Malaysia Sdn Bhd (BMSB) in 2014.
Date: 30 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 29 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has reprimanded three auditors for failure to comply with the International Standards on Auditing when auditing their respective public-listed company clients.
Date: 29 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 27 (Bernama) - The new order to regulate digital currencies and tokens as securities, which came into force on Jan 15 this year, is a shift in regulatory regime from both the Securities Commission (SC) and Bank Negara Malaysia, says an expert.
Date: 27 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 15 (Bernama) - The Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019, which comes into force today, is a pragmatic approach by the authorities to regulate digital currencies and assets, says the World Bank. World Bank Group’s Macroeconomics, Trade and Investment le ...
Date: 15 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 12 (Bernama) - The Ministry of Finance (MoF) will be implementing new operational hours at the Urban Transformation Centres (UTCs) starting Jan 22 as a measure to save public expenditure.
Date: 12 January 2019; Type: Industry Updates; Source: Bernama
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KUALA LUMPUR, Jan 12 (Bernama) - The government has yet to make a final decision whether to legalise the use of cryptocurrency and digital currency in the country.
Date: 12 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Jan 7 (Bernama) - The Employees Provident Fund (EPF) today announced that employers will, from now, make a minimum statutory contribution of four per cent for employees above 60 years old against the present practice of contributing 6.0 and 6.5 per cent. Employees' share contribution, on the other hand, will now be at zero per ce ...
Date: 07 January 2019; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Dec 28 (Bernama) - Bank Negara Malaysia (BNM) today issued a policy document on outsourcing aimed at strengthening governance and risk management standards in managing outsourcing risk. In a statement today, BNM said the policy document is effective from Jan 1, 2019 and will be applicable to licensed banks, investment banks, Isla ...
Date: 28 December 2018; Type: Legal News; Source: Bernama
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PUTRAJAYA, Dec 18 (Bernama) - The Federal Court here ruled that banks cannot rely on exclusion clauses in loan agreement to absolve any liability against them, describing the patent as unfairness and injustice as there is an absolute restriction to customers’ right to damages. Federal Court Judge Datuk Seri Balia Yusof Wahi in his 37-pag ...
Date: 18 December 2018; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Dec 17 (Bernama) - The Cabinet has decided that the Tabung Haji (TH) will be placed under the supervision of the Bank Negara Malaysia (BNM), says Deputy Minister in the Prime Minister's Department Fuziah Salleh.
Date: 17 December 2018; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Dec 14 (Bernama) - The Securities Commission Malaysia (SC) has released the revised Prospectus Guidelines and Equity Guidelines, which will come into effect on March 13, 2019.
Date: 14 December 2018; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Dec 12 (Bernama) - The Securities Commission (SC) has revoked the Capital Markets Services Representative’s Licence (CMSRL) of Shaiful Nazren Kassim for improper business practices, effective Dec 7, 2018.
Date: 12 December 2018; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Dec 10 (Bernama) - Lembaga Tabung Haji (TH) will be placed under Bank Negara Malaysia’s (BNM) supervision starting January next year to improve the organisation’s governance, said Minister in the Prime Minister’s Department, Datuk Seri Dr Mujahid Yusof.
Date: 10 December 2018; Type: Legal News; Source: Bernama
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On 28 November 2018, Bank Negara Malaysia (BNM) and Dubai Financial Services Authority (DFSA) had signed a Memorandum of Understanding (MoU) on supervisory cooperation for effective supervision of banking and insurance/ takaful/ reinsurance institutions operating in both countries.
Date: 05 December 2018; Type: Industry Updates; Source: Bank Negara
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KUALA LUMPUR, Dec 6 (Bernama) - Regulations are currently being put in place to bring digital assets within the remit of securities laws to promote fair and orderly trading and ensure investor protection, the Securities Commission (SC) and Bank Negara Malaysia (BNM) said today. Digital assets refer to digital currencies and digital tokens.&nbs ...
Date: 06 December 2018; Type: Legal News; Source: Bernama
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KUALA LUMPUR, Nov 29 - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB), has withdrawn the recognition of Singapore-based audit firm RT LLP and Su Chun Keat, who is a partner in the firm.
Date: 29 November 2018; Type: Industry Updates; Source: Securities Commission
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