PETALING JAYA (June 15): The Securities Commission Malaysia (SC) implemented today, its new framework and guidelines aimed at reforming its funds and product approval regime to reduce time-to-market for wholesale products, while upholding due diligence.

In a statement, the SC said its Lodge and Launch framework for wholesale products and the “Guidelines on Unlisted Capital Market Products” issued on March 9, 2015, was put into effect today.

“The Lodge and Launch framework is intended to shorten time-to-market by enabling wholesale products to be launched, once the required information is lodged with the SC via its online submission system, as compared to the current 14 to 21 days approval timeframe,” the statement read.

Wholesale products that are covered under the framework include wholesale funds, structured products, bonds, sukuk and asset-backed securities, the statement added.

The SC said the introduction of the framework is in line with its new regulatory philosophy, which advocates proportionality of regulation, recognises the maturity of the Malaysian capital market and the sophistication of investors within the wholesale market.

“With this liberalisation, SC will increase its focus on conduct regulation and product surveillance to ensure that all who are involved in the wholesale market discharge their due diligence and disclosure obligations, as well as uphold the principle of fair treatment of investors,” the statement read.

The guidelines for the Lodge and Launch framework supersedes existing guidelines on the various wholesale products. For more information on the guidelines, visit SC’s website at www.sc.com.my.