Regulatory Alerts2020-10-08
SEC Issues a Code and Three Guidelines for the Market
The Securities and Exchange Commission (SEC) has issued a Corporate Governance Code and three operational guidelines to implement its statutory mandate under the Securities Industry Act 2016. The new framework establishes licensing requirements for market operators, outlines procedures for regulatory sandbox participation, and codifies conduct of business standards. These measures collectively aim to safeguard investor interests, preserve market integrity, and promote the orderly development of an efficient securities market.
The Securities and Exchange Commission (hereinafter referred to as “SEC”) is the statutory body mandated by the Securities Industry Act 2016 (Act 929) to protect investors and the interest of the general investing public. The Act among other things specifically mandates SEC to “promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected”…
In view of this, the SEC has issued a code and three guidelines for the market.
Corporate_Governance_Code Full document can be downloaded here
Licensing_Requirements_for_Market_Operators Full document can be downloaded here
Regulatory_Sandbox_Licensing_Guideline Full document can be downloaded here
Conduct_of_Business_Guidelines Full document can be downloaded here