By TMR / Pic By MUHD AMIN NAHARUL
THE Securities Commission Malaysia (SC) will facilitate the online distribution of capital market products, such as unit trusts, through e-service platforms like e-wallet.
According to SC, this amendment will allow operators of e-payment applications to partner Capital Markets Services Licence holders to distribute capital market products to investors.
E-payment operators, which are currently subject to the oversight of another sectoral regulator, will be required to obtain the prior approval from the said regulator before submitting their application to the SC.
“The introduction of the e-service platform framework will facilitate the wider distribution of capital market products through digital platforms which are already familiar to our investors,” said SC chairman Datuk Syed Zaid Albar in a statement.
SC further observed an increase in the number of online trading accounts being registered and a shift among licence holders towards using digital channels to distribute capital market products and services.
Interested operators will have to register with the SC as a recognised market operator and may submit their applications from yesterday onwards.