PETALING JAYA: Amendments to the Securities Commission Act 1993 (SCA) and the Capital Markets and Services Act 2007 (CMSA) aimed at promoting the development of the capital market came into force on Oct 3, in line with the global standards pursuant to the strategies outlined in the Capital Market Masterplan 2.
The amendments include the legal framework for the private retirement scheme industry (PRS), where the PRS framework will provide the public with options to make additional voluntary long-term contributions to supplement their retirement savings within a well-structured and regulated environment.
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