Regulatory AlertsNotification on Outsourcing for Capital Market Services Licence Holders
The Securities Commission Malaysia issued this notification form requiring Capital Market Services Licence Holders to confirm that their outsourcing arrangements comply with securities laws and regulations. The document mandates that licensees provide details on the outsourced functions, justify any outsourcing to providers outside Malaysia, and declare satisfaction with the service provider's capability and capacity. It serves as a formal declaration by the Chief Executive Officer or Executive Director that all submitted information is true, accurate, and supported by continuous compliance measures.
Company’s Letter Head Executive Director Intermediaries Supervision Business Group Securities Commission Malaysia 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur NOTIFICATION ON OUTSOURCING FOR CAPITAL MARKET SERVICES LICENCE HOLDERS CMSL : ………………………………………… Date of Submission : ………………………………………… We hereby confirm that the arrangement between (Name of the CMSL holder) and (Name of the service provider) that was undertaken on ……………….. , is in compliance with securities laws, regulations and all relevant guidelines; and that measures are in place to ensure compliance on a continuous basis. Please describe briefly the outsourced function(s). Also a brief on the rationale to outsource to service provider or sub-contractor outside Malaysia and explanation on why the particular function could not be undertaken domestically (if outsourced to service provider or sub-contractor outside Malaysia). We have conducted a review of the operations of (Name of the service provider) and are satisfied that (Name of the service provider) has the capability and capacity to efficiently fulfil its duties and responsibilities in respect of the outsourced function(s). We declare that, all information given in this notification form is true and accurate. …………………………………………………. ……………………………………………….. Name: ……………………………………….. Name: ……………………………………… (Chief Executive Officer/ Executive Director) (Person responsible for submission) Date: Date: Copied to: Head Participants Supervision Division Bursa Malaysia Bhd 12 th Floor, Exchange Square Bukit Kewangan 50200 Kuala Lumpur