SC announces further relief measures for capital market licensed entities

The Securities Commission Malaysia has announced further relief measures, which will immediately benefit 231 licensed entities, 30 registered audit firms and 9,663 licensed individuals.

The new relief measures include a waiver of the SC’s annual licensing fees for 2020 on the core regulated activity of all Capital Markets Services Licence entities with profit before tax of RM5 million or less during financial year 2019, as well as a waiver of the annual licensing fees for the year 2020 for all individual CMSL holders and Capital Markets Services Representative’s Licence holders.

The SC also announced the reduction of the minimum Continuing Professional Education requirements to 10 CPE points from the current 20 CPE points, effective July 1, 2020, for a period of 12 months for all CMSRL holders and Employees of Registered Persons . Furthermore, it announced a one-off training subsidy for existing registered firms of the Audit Oversight Board with less than 10 audit partners, up to RM30,000 per firm for Approved Training Programmes conducted by the Malaysian Institute of Certified Public Accountants .

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