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Shearn Delamore & Co logo
Shearn Delamore & Co’s rich history and heritage reflects the story of Malaysia over the past century. The seeds of the firm were planted around the…
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Shearn Delamore & Co | Malaysia | 11 Jan 2022

Exposure draft on agent oversight framework for money services business

Bank Negara Malaysia recently issued an exposure draft providing an agent oversight framework for money services business, which is open for public consultation. The draft, when it comes to effect, will apply to all money services business licensees that are approved to appoint money services business agents under section 43 of the Money Services Business Act 2011.
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Shearn Delamore & Co | Malaysia | 7 Dec 2021

Bank Negara Malaysia issues exposure draft on Code of Conduct for Malaysia Wholesale Financial Markets

Bank Negara Malaysia recently issued an exposure draft on the Code of Conduct for Malaysia Wholesale Financial Markets. The proposed enhanced requirements are intended to address the key gaps and global development on market conduct matters, and are to be observed by market participants to uphold integrity and principles of fair market practices.
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Shearn Delamore & Co | Malaysia | 16 Nov 2021

Third capital market masterplan

The Securities Commission Malaysia recently launched the third capital market masterplan, which will serve as a strategic framework for the growth of the capital market in Malaysia over the next five years and aims at ensuring that the capital market achieves growth, efficiency and diversification. This article discusses the key development and regulatory thrusts involved in this outcome.
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Shearn Delamore & Co | Malaysia | 26 Oct 2021

BNM announces that Myor is alternative reference rate for Malaysia

Bank Negara Malaysia (BNM) recently announced that the Malaysia overnight rate (Myor) is an alternative reference rate for Malaysia. The Myor will be administered and calculated by BNM as the volume-weighted average rate of unsecured overnight ringgit interbank transactions, including BNM's overnight monetary operations (excluding standing facilities).
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Shearn Delamore & Co | Malaysia | 19 Oct 2021

Amendment to financial services legislation takes effect

The Financial Services (Requirements and Submission of Documents or Information) (Registered Business) (Amendment) Order 2021 PU (A) 351/2021 (the amendment order), which recently came into effect, amends Schedule 1(1) to the Financial Services (Requirements and Submission of Documents or Information) (Registered Business) Order 2013. The amendment order affects institutions that intend to......
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Shearn Delamore & Co | Malaysia | 12 Oct 2021

BNM issues policy document on reference rate framework

Bank Negara Malaysia recently issued a policy document on reference rate framework that will come into effect in 2022. It states that a standardised base rate will be used as the common reference rate for pricing all new retail loans or retail sharia-compliant financing facilities.
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Shearn Delamore & Co | Malaysia | 6 Oct 2021

Significant amendments to Carriage of Goods by Sea Act

The Carriage of Goods by Sea (Amendment) Act (2020) and its supplementary Carriage of Goods by Sea (Amendment of First Schedule) Order 2021 recently came into force. They have brought into effect the long-awaited changes to the Carriage of Goods by Sea Act 1950. The amendments have occasioned changes that have been welcomed by stakeholders in the maritime trading industry. This article offers......
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Shearn Delamore & Co | Malaysia | 5 Oct 2021

BNM issues recovery planning policy document

Following feedback on its exposure draft, Bank Negara Malaysia has issued a revised policy document on recovery planning that is applicable to various financial institutions (FIs). Pursuant to the policy document, FIs are required to identify and plan for the execution of a suite of recovery options to restore long-term viability under a range of idiosyncratic and system-wide stress events.
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Shearn Delamore & Co | Malaysia | 28 Sep 2021

Financial services update: qard, agent banking and legislative amendments

This article covers various recent updates in the financial services sector. These include the Shariah Advisory Council's ruling relating to qard, the issuance of an exposure draft aiming to enhance the role and effectiveness of agent banks, and amendments to the Guidelines on Sustainable and Responsible Investment Funds, the Capital Markets and Services Regulations 2012 and the Capital......
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Shearn Delamore & Co | Malaysia | 21 Sep 2021

Transition from Libor

In 2017, the UK Financial Conduct Authority announced that it would no longer be necessary to persuade or compel banks to submit the rates required to calculate the London interbank offered rate (Libor) after 31 December 2021. This article discusses the implications of the cessation of Libor and looks at what it might mean for entities in Malaysia.
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