Bursa Malaysia Annual Report 2015

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GOVERNANCE
60 Bursa Malaysia • Annual Report 2015
CORPORATE GOVERNANCE
STATEMENT
1. ESTABLISH CLEAR ROLES AND RESPONSIBILITIES
1.1 Clear functions of the Board and Management
The Board is responsible for the oversight and overall management of the Company. In order to ensure the effective discharge of its functions
and responsibilities, it has established a Governance Model for the Group where specific powers of the Board are delegated to the relevant Board
Committees1 and the Chief Executive Officer (“CEO”), as depicted below.
The Board of Directors of Bursa Malaysia (“Board”) presents this statement to
provide an insight into the corporate governance (“CG”) practices of the Company
under the leadership of the Board.
In building a sustainable business, and discharging its regulatory role, the Board is
mindful of its accountability to the shareholders and various stakeholders of Bursa
Malaysia. This statement demonstrates the Board’s commitment to cultivating a
responsible organisation by ensuring excellence in CG standards at all times.
Note:
* All subsidiaries of Bursa Malaysia have fully adopted the Governance Model of Bursa Malaysia Group except for Bursa Malaysia Derivatives and its wholly-owned subsidiary, Bursa Malaysia Derivatives Clearing
which have adopted two Governance Committees, and the applicable Regulatory Committees
1 Board Committees comprise three Governance Committees and four Regulatory Committees as set out in the Governance Model of Bursa Malaysia Group
BOARD OF DIRECTORS
Governance
Corporate Sustainability Committee
Management Risk and Audit Committee
CHIEF EXECUTIVE OFFICER
Business Operations (Commercial & Regulatory)
Management Committee
Management Regulatory Committee
100% Subsidiaries
Bursa Malaysia Securities Berhad
Bursa Malaysia Securities Clearing Sdn Bhd
Bursa Malaysia Depository Sdn Bhd
Bursa Malaysia Depository Nominees Sdn Bhd
Bursa Malaysia Information Sdn Bhd
Bursa Malaysia Bonds Sdn Bhd
Bursa Malaysia Islamic Services Sdn Bhd
Shari’ah Committee
Disciplinary Committee
Appeals Committee
Labuan International Financial Exchange Inc (LFX)
LFX Exchange Committee
Listing Committee
Disciplinary Committee
Licensing Committee
GOVERNANCE COMMITTEES
Audit Committee *
Nomination and Remuneration Committee
Risk Management Committee *
75% Subsidiaries (25% CME)
Bursa Malaysia Derivatives Berhad
100% Subsidiary
Bursa Malaysia-CME Joint Working Group
Bursa Malaysia Derivatives Clearing Berhad
Public Company Limited by Guarantee
Yayasan Bursa Malaysia
O Q X W Matches the corresponding committees to the relevant companies
O
Q
X
Q
Q
X
X
Q
Q
Q
O Q X
X
X
X
W
W
W
W
REGULATORY COMMITTEES
Regulatory and Conflicts Committee
Listing Committee
Market Participants Committee
Appeals Committee
MANAGEMENT GOVERNANCE FRAMEWORK