The Securities Commission Malaysia (SC) announced today that it will facilitate the online distribution of capital market products such as unit trusts, through e-Services platforms like e-wallet or e-payment service providers.
The Guidelines on Recognized Markets has been amended to introduce a new chapter on “e-Services platform”, which contains the registration requirements and ongoing obligations for e-Service providers.
This amendment will allow operators of e-wallet or e-payment applications to partner with Capital Markets Services Licence holders to distribute capital market products to investors. E-wallets or e-payment operators which are currently subject to the oversight of another sectorial regulator will be required to obtain the prior approval from the said regulator before submitting their application to the SC.
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