How Malaysia's Securities Commission is beefing up its regulatory muscle

An advanced capital market platform RegTech deal in Malaysia has just signed between MIMOS and the Securities Commission.

By AvantiKumar
Dec. 5, 2016

Securities Commission Malaysia building

Image (SC Malaysia) - Securities Commission Malaysia building


Malaysia's Securities Commission (SC) plans to enhance its regulatory muscle especially in the areas of risk assessment, surveillance and supervision capabilities with Big Data analytics.

This announcement was made recently at the SC building in Kuala Lumpur during the signing of a memorandum of agreement (MoU with the national applied research agency MIMOS.
At the signing ceremony with MIMOS' chief executive officer Datuk Abdul Wahab Abdullah, SC chairman Tan Seri Dato' Seri Ranjit Ajit Singh said both agencies will jointly develop a capital market advanced analytics platform.
Ranjit said SC will be able to leverage new technology to process a higher volume of data from a variety of sources beyond the traditional data sets, as well as facilitate the usage of RegTech or technology to enhance regulatory effectiveness.

He said this move will help build Malaysia's Big Data capability in the capital market.

First among ASEAN peers
SC is one of the first among its peers in the ASEAN region to implement and develop advance analytics to aid and complement its regulatory work, added Ranjit.

MIMOS, SC Malaysia signing

Photo - (From left) Tan Sri Dato' Seri Ranjit Ajit Singh, Chairman, Securities Commission Malaysia; and Datuk Abdul Wahan Abdullah, CEO, MIMOS Berhad.

He said that to further advance SC's risk assessment, surveillance and supervision capabilities, the regulator will now further develop and adopt RegTech solutions to meet regulatory challenges and deliver on regulatory outcomes.
"To achieve this, we need up-to-date, comprehensive and quality data with advanced analytical capabilities to support a more fact-based, insight-driven approach to surveillance, supervision and research," said Ranjit.

"This collaboration between SC and MIMOS will provide SC with the technology capabilities to harvest and process a high volume of both structured and unstructured data, enable more accurate scenario analysis and horizon scanning to generate better insights," he added.
MIMOS' Abdul Wahab said: "MIMOS is privileged to be a strategic partner of the SC in RegTech development and this MoU lays the groundwork for deeper collaboration between MIMOS and SC in building big data capability for the country."

This article was first published on Computerworld Malaysia 5 December 2016