Page 41 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

connectivity, capacity building and purpose-driven the cross-border and global nature of sustainable
engagements. finance instruments.

In the area of ICM, the SC continues to play its role
Contributing to global and regional as a global thought leader by:
thought leadership
• Contributing to development of standards
In 2018, the SC led international policy work in and research through IFSB and COMCEC
several areas that support and complement domestic respectively to guide policies and
priorities. Through the SC’s leadership role within developmental work. In 2018, two reports
IOSCO, Islamic Financial Services Board (IFSB) and titled Islamic Fund Management and The
Standing Committee for Economic and Commercial Role of Sukuk in Islamic Capital Markets
Cooperation of the Organization of the Islamic were published by COMCEC. Malaysia was
Cooperation (COMCEC), the SC remained at the used as a reference case as a mature ICM in
forefront of global discussions and played a pivotal both reports; and
role in several areas of thought leadership.
• Championing research on topics of
As part of IOSCO, the SC’s participation covered contemporary relevance to Islamic finance
areas such as: through the annual Scholar in Residence
Programme, a key initiative under the
• Cybersecurity, where a Guidance Note on SC-OCIS collaboration.
Cybersecurity for Regulators in Emerging
Markets (Guidance Note) was developed in Biennially, the SC and BNM recognise and honour
April 2018. This is the first time that guidance Islamic finance global thought leaders through the
has been developed for securities regulators Royal Award for Islamic Finance. In 2018, the Award
globally with measures relating to governance was bestowed upon Tan Sri Dr Zeti Akhtar Aziz.
frameworks, mechanisms and controls on the
identification, protection, detection, response A key milestone of the SC’s role in global thought
and recovery. The Guidance Note also leadership, the WCMS was held in February 2018.
discusses approaches to enhance international With the theme ‘Renaissance of Capitalism:
collaboration and information sharing as well Markets for Growth’, WCMS brought together
as strengthening of regulatory capabilities in global thought leaders, policymakers and industry
this area. Furthermore, it helps provide a basis experts on the future of finance and its
for emerging market regulators to develop sustainability for future generations.
their own domestic cybersecurity policies; and

• Regulation of secondary markets, where Furthering regulatory co-operation
issues relating to liquidity in bond markets, and linkages
mechanisms used by exchanges to manage
volatility and the regulation of crypto asset The SC continues to strengthen regulatory
trading platforms were reviewed. co-operation and linkages with international
counterparts to help shape domestic policies as well
The SC’s commitment to sustainable finance at the as ensure that the approach is in line with global best
global level is also reflected through its leadership in practices. The relationships that the SC has cultivated
the IOSCO GEM Committee Working Group on over the years have enabled it to tap relevant
Sustainable Financing. The output is expected to expertise, insight and requests for necessary
facilitate a degree of international consistency given assistance to support the SC’s role and functions.

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