Regulatory Alerts2005-07-13
Practice Note 1 – Application of the Guidelines to Cross-selling of Unlisted Debt Securities to Eligible Individuals by Dealer's Representatives Not Certified by PPKM
The Securities Commission issues this Practice Note to disapply the Persatuan Pasaran Kewangan Malaysia certification requirement for dealer representatives conducting specific cross-selling transactions of unlisted debt securities. This exemption permits uncertified representatives to market these securities to eligible individual investors, defined as those with net assets exceeding RM3 million or investments of at least RM250,000, provided the actual transaction execution remains with a certified in-house bond dealer. Universal brokers and involved representatives must adhere to best practices by providing accurate market information and ensuring investors receive risk disclosures to confirm suitability.
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