SC Malaysia appoints Kamarudin Hashim and Datin Azalina Adham as Managing Directors

Rick Steves

The Securities Commission Malaysia (SC) has appointed Kamarudin Hashim and Datin Azalina Adham as its new Managing Directors, effective 1 January 2023.

Kamarudin Hashim and Datin Azalina Adham will assist the SC Chairman in setting the overall strategic direction for the Malaysian capital market and in overseeing the SC’s dual mandate of capital market regulation and development.

The two Managing Directors will continue to oversee their current portfolios of Market and Corporate Supervision (under the supervision of Kamarudin Hashim), and Strategy and Policy (under the supervision of Datin Azalina Adham).

Deputy Chief Executive Datuk Zainal Izlan Zainal Abidin steps down

The Malaysian regulator also announced that its Deputy Chief Executive Datuk Zainal Izlan Zainal Abidin will step down on 11 January 2023 to pursue other interests.

Dato’ Seri Dr. Awang Adek Hussin said, said: “Datuk Zainal Izlan has helped lead the growth of the Islamic Capital Market, and the SC’s Sustainable and Responsible Investment (SRI) agenda, both in Malaysia and abroad. On behalf of the Board and staff of the SC, I wish him the best in his future endeavours.”

The SC Chairman praised Datuk Zainal Izlan for his excellent service and substantial contributions to the development of the capital market.

CFD trading in Malaysia: Only Shares and Indices. No Forex

Earlier this year, FinanceFeeds published a piece providing insight into the state of CFD trading in Malaysia, including rules, regulations and restrictions.

It was recently reported by SC Malaysia, that many big name CFD brokers are registering Malaysian clients under offshore regulations and warned public against them and regular alerts are being issued in this regard, which is unsafe for the clients as they don’t have protection of the local regulator, and makes it somewhat illegal in Asian countries for these traders to pay these brokers as it falls under grey area.

The Securities Commission of Malaysia released its CFD framework in 2018 to govern and regulate CFD trading in Malaysia. Brokers and other intermediaries need to obtain licenses under these regulations in order to operate in Malaysia.

They are also required to report their transactions under these regulations. Several of the leading global CFD brokers have been banned by the Securities Commission from offering their services in Malaysia.

Forex CFD trading is not allowed by the SC of Malaysia as of date. The Securities Commission of Malaysia only allows CFD brokers to offer shares and indices. Further, there are several guidelines pertaining to which shares and indices can be offered by a broker to Malaysian clients. As mentioned earlier, the SC does not permit forex CFDs.  

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<