Bursa Malaysia • Annual Report 2013
46
Regulatory Statement
Bursa Malaysia has an obligation to ensure our markets
operate in a fair, orderly and transparent manner. Being
the frontline regulator of the Malaysian capital market,
we are committed to discharging our regulatory role in
a manner that is effective, balanced and independent.
In 2013, we continued to undertake and discharge
our regulatory role to ensure, so far as reasonably
practicable, an orderly and fair market underpinned by
adequate levels of investor protection. We continued to
adopt a five-pronged approach in regulating the market
namely through regulatory development, supervision,
engagement, enforcement and stakeholder education.
Our regulatory policy and supervisory approaches are
regularlyassessed toensureeffectivenessandefficiency.
Development of the Regulatory Framework
Bursa Malaysia has in place a comprehensive and effective regulatory
and supervisory framework to regulate the market and its participants. We
continuously develop and fine-tune our rules to ensure that they are effective
and promote efficiency and growth in the market. The year saw us refining
the rules primarily to enhance the regulatory framework and cater to existing
product and service enhancements as well as new products and services.
Some of the key changes made were a revamp of business rules, changes
to the listing requirements in relation to business trusts, stapled securities
and shortening of the timeframe for issuance of annual reports. We also made
changes to the derivatives exchange rules to facilitate the launch of Gold
Futures Contracts as well as implemented changes to the depository rules for
sending of eStatements, among other communications, to depositors.
To our Stakeholders
Surveillance of the Market and Listed Issuers
The trading landscape has evolved significantly over the years for both the
equities and derivatives markets, and these markets on the whole have been
operating in a fair and orderly manner. We take various regulatory actions when
trading concerns are detected, depending on their severity and scale. Where
there are breaches of our rules or securities laws, regulatory actions can range
from engagement with the brokers, issuance of unusual market activities
(UMA) queries, market alerts, and designation or referral to the relevant parties,
including the Securities Commission. We take a proactive stance in engaging
with brokers individually to highlight unacceptable trading practices and good
trading practices.
