Regulatory Alerts2024-11-27
Summary of Amendments to the Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors
The regulator issued revised guidelines on 28 November 2024 to amend the issuance framework for corporate bonds and sukuk to retail investors. The updates clarify that issuers must be corporations and remove the mandatory declaration for related-party trustees. These revisions align the document with consequential changes to capital market services provider regulations while incorporating editorial improvements for greater consistency.
1 SUMMARY OF AMENDMENTS REVISED GUIDELINES ON ISSUANCE OF CORPORATE BONDS AND SUKUK TO RETAIL INVESTORS (Date of Issuance: 28 November 2024) The following table provides a summary of key amendments to the revisedGuidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors (Guidelines) issued on 28 November 2024: A. Overview
- The Guidelines were revised to reflect consequential amendments to the revised Guidelines on the Registration and Conduct of Capital Market Services Providers.
- Housekeeping and editorial amendments throughout the Guidelines were made to provide greater clarity and consistency. These amendments include stylistic or formatting changes and necessary changes of an editorial nature. B. Amendment Highlights No. Prior to 28 November 2024 Revised Version Dated 28 November 2024 Comments Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors
- Paragraph 2.01, Chapter 2 Paragraph 2.01, Chapter 2 Amended definition of “issuer” to clarify that an issuer must be a corporation.
- Paragraph 1.13, Appendix 1 - Removed the requirement to submit the declaration to be a related-party trustee under the Guidelines.