Kuala Lumpur: The Securities Commission Malaysia (SC) has made several amendments to the Capital Markets and Services Act 2007 (CMSA), which come into force Thursday.
In a statement Thursday, the SC said the amendments, effected through changes made to Schedules 6 and 7 of the CMSA, have widened the categories of sophisticated investors, to include individuals with investments of RM1 million in capital market products, either on their own or through joint accounts with their spouse.
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The widened categories of sophisticated investors include chief executive officers (CEOs) and directors of licensed or registered persons under the CMSA, as well as corporations that manage funds of their related companies with assets of more than RM10 million, it said.
“This will allow more investors to expand their investment options while issuers can now tap into a larger pool of sophisticated investors,” it said.
In addition, the regulator said the amendments to Schedules 6 and 7 would enable Bursa Malaysia to undertake the registration of ACE Market prospectuses effective Jan 1, 2022.
“Upon the transfer of the registration function, which is currently assumed by the SC, Bursa Malaysia will become the one-stop centre for all approvals in relation to ACE Market listing,” it said.
Meanwhile, the SC said Schedule 5 of the CMSA, which sets out the type of corporate proposals that do not require the SC’s approval, had also been amended to include initial exchange offering of digital assets through a recognised market operator.
It included an initial public offering (IPO) or cross-listing of the shares of a public company or listed corporation on a stock exchange outside Malaysia, said the regulator.
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