FRIDAY, 4.00PM:
MALAYSIA and South Africa have signed an agreement to increase investor protection and safeguard the securities, futures and options market. South Africa is Malaysia’s biggest African partner, accounting for US$38,8 million in investment last year, or two percent of Malaysia’s total overseas investment.
On Friday, Malaysia’s Securities Commission (SC) and the Financial Services Board (FSB) of South Africa agreed to set up a system of assistance and co-operation to increase investor protection and promote the integrity of the securities, futures and options markets.
SC’s chairman Mohd Munir Abdul Majid said the increasing internationalisation of securities markets had created new challenges for domestic enforcement agencies. “With the growing cross-border needs of the investors of our two countries, SC and FSB must work together to ensure that there are sufficient safeguards for these investments.”