An exposure draft on the Code of Conduct for Malaysia Wholesale Financial Markets was issued by Bank Negara Malaysia (BNM) on 9 November 2021.
BNM has taken into account the preliminary feedback from selected market participants via the ACI-Financial Markets Association of Malaysia and benchmarked against global best practices in this exposure draft. The proposed enhanced requirements are:
- intended to address the key gaps and global development on market conduct matters; and
- to be observed by market participants (as defined in the Financial Services Act 2013 and Islamic Financial Services Act 2013 respectively) to uphold integrity and principles of fair market practices, which is essential to support confidence, ensure an orderly functioning of the wholesale financial markets and preserve financial stability.
For further information on this topic please contact Pamela Kung at Shearn Delamore & Co by telephone (+60 3 2027 2911) or email ([email protected]). The Shearn Delamore & Co website can be accessed at www.shearndelamore.com.