Spurring digitisation, addressing scams discussed at SC industry dialogue

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KUALA LUMPUR (Sept 15): The Securities Commission Malaysia's (SC) annual Industry Dialogue 2020, which concluded today, discussed a broad spectrum of issues including accelerating digitisation adoption, addressing scams and unlicensed activities.

Promoting Sustainable and Responsible Investment (SRI) was also among the topics at the six-day event, which involved 60 industry leaders from various market segments in the capital market.

“The Covid-19 pandemic has significantly impacted Malaysians at large and similarly, this is felt across the various segments of the capital market.

“Given the rapidly evolving environment that we operate in, it is important for the SC to undertake robust and constant engagements with market participants to ensure the continued effectiveness and efficiency of the capital market ecosystem,” SC chairman Datuk Syed Zaid Albar said in a statement today.

Participants at the dialogue included advisers, brokers, credit rating agencies, fund managers, financial planners, investment banks, market operators, traders, and unit trust management companies, and this cut across the Islamic, conventional, as well as the digital segment.

Syed Zaid said the dialogue facilitated a candid exchange of views and ideas on several key areas, which would inform the SC in the formulation of policies to drive the growth of the capital market.

With regards to the increasing incidences of clone firm scams and unlicensed activities, the SC has heightened its surveillance, supervisory actions, as well as investor education and awareness efforts.

To this end, a special task force had been established within the SC to accelerate the detection, investigation and initiation of enforcement action against the perpetrators, the regulator said. 

The SC calls on members of the public with information on illegal investment schemes to contact its Consumer and Investor Office at 03-6204 8999 or email: [email protected].