Business as usual for SC and Bursa from March 18-31


SC chairman Datuk Syed Zaid Albar(pic) said all exchanges will continue to operate in a fair and orderly manner with the necessary regulatory oversight in place.

KUALA LUMPUR: The Securities Commission (SC), Bursa Malaysia and its subsidiaries will continue to operate as normal during the 14-day movement control order in the country from March 18 to 31.

This came after Prime Minister Tan Sri Muhyiddin Yassin announced the movement control order nationwide to curb the spread of the the Covid-19 infection in Malaysia.

In a press statement issued yesterday, the SC said the capital market is the critical component of Malaysia’s financial sector, adding that the continuous operations would allow investors to make informed, timely decisions and execute the same without impediment.

SC chairman Datuk Syed Zaid Albar(pic) said all exchanges will continue to operate in a fair and orderly manner with the necessary regulatory oversight in place.

“The Securities Commission has already in place business continuity measures including backup sites, recovery facilities and alternative communication channels to identify, manage and mitigate potential and emerging risks, ” he added.

Meanwhile, the local bourse said the continuous operation of markets is important to support the principles of an efficient market mechanism with minimal or no intervention.

“Bursa Malaysia has in place the necessary infrastructure, rules and processes to maintain a fair and orderly marketplace, ” it added.

Bursa Malaysia noted that the tick rule will be extended to intra-day short-selling and permitted short-selling activities of the investment accounts and market makers to ensure consistency of market practice. The tick rule will also apply for the short selling activities of the properietary day traders.

Going forward, the SC will monitor all market related activities, the exchanges and capital market intermediaries to ensure facilitation of transparent, efficient, and effective capital market activities, including clearing, settlement and depository operations.

“The SC and Bursa Malaysia have been proactively monitoring the national and global development of Covid-19 to assess its impact and will continue to evaluate and calibrate the scale of their responses in order to maintain market integrity, ” it said.

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