Regulatory Alerts2005-09-15
Guidance Note on the Secondary Trading of Foreign Currency Denominated Debentures and Islamic Securities
The Securities Commission of Malaysia issued this guidance to exempt secondary trades of foreign currency denominated bonds between sophisticated investors from prior regulatory approval under the Securities Commission Act 1993. Regulated sellers must adhere to fair dealing best practices, including conducting Know Your Client assessments, ensuring investors understand financial risks, and providing detailed risk disclosure statements. Additionally, regulated sellers are mandated to submit monthly trade reports to the Commission within seven days of the month's end while complying with Bank Negara Malaysia's foreign exchange administration rules.
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