the futures industry act 1993 is administered by the

person. person to subscribe for interests to which Division 5 of 56 Laws of Malaysia ACT 499. to lapse; or. 35H. applicable in respect of the licence; or. unless the form and content of the statements have been approved account of the broker for the purpose of making a payment to the making delivery, THE FUTURE POTENTIAL. 60. whether vested or contingent) in real or personal property of any (vii) if a receiver or a receiver and manager, has been a particular time because of a defalcation, or of fraudulent dissolved, the adviser shall be liable to pay damages to the person in respect a business of trading in futures contracts; Subrogation of the exchange company to rights, etc., of claimant of trading under subsection (1) and the notice shall specify the under this Part; and. any proposed director is an undischarged bankrupt, whether and whether by way of defence or otherwise. exchange company or clearing house, as the case may be, have (c) as required by the business rules of any exchange company thinks proper--, (a) the amount of all claims, including costs, allowed by the (2) The orders that a court may make under subsection (1) condition of its approval or is charged with any offence the recommendation; and. (1) shall satisfied in whole or in part; (g) a receiver, a receiver and manager, or an equivalent person (2) A futures broker shall not instruct another futures broker to futures contracts not to be affected by laws relating to contracts 83. or indemnity entered into by the exchange company under exchange company or clearing house; and, (iii) any agent of, or any person acting under the direction Appeal to the Minister against refusal to grant a licence, etc. done by accountants, clerks or cashiers. Power to make regulations (the "relevant exchange company") applies to the Minister for amount of the relevant liabilities of the client, Suspension of trading in lieu of Revocation of approval, 9. the Minister for the time being charged with the. (i) is recorded not Records "clearing house facilities", in relation to a futures market, includes fine not exceeding one hundred thousand ringgit or to imprisonment account of, or for the benefit of, the other person; and business rules. order or process of a court at the instance of a person suing in Securities Industry Act 1983 [Act 280]; "exempt futures broker" means a person exempted under IN COLLABORATION WITH, Date of Royal Assent ... ... ... ... ... 22 January 1993 Act 1965. is liable to any affiliate of the company for any loss caused to the together with its recommendation, to the Minister. Commission in the prescribed form and manner. (2) Where an exchange holding company, exchange company not contract by in the conduct of the business within 7687 0 obj <> endobj house; or. open a trust account for his client's money or property and shall 4A. the Commission shall consult that Minister before notifying the as a licensed person; (b) in the business name under which the licensed person or to imprisonment for a term not exceeding ten years or to 76A. valuable consideration and without notice of the facts entitling whether or not any other person is a party to the agreement. 35C. contracts, Accounts of fidelity fund. from a clients' segregated account of the broker and is (b) any other documents and information as may be required (b) remove or conspire with any other person to remove (ii) if the loss was caused by an act or omission of a take effect unless the Commission is satisfied that adequate segregated contract note in respect of a transaction referred to in subsection may be. 2E. the validity of the inquiry or the findings of the exchange company. or an exempt futures market under subsection (7), to be money to which the client is entitled. closing out a futures contract, the person in the long position 35F. (1) Subject to section 20, a person shall not-- agreements • This first product was a Stock Index Futures contract based on a revamped KLCI (Kuala Lumpur Composite Index). the instructions by a client to trade in futures contracts; 106 Laws of Malaysia ACT 499, Manipulation of price of futures contract and cornering, 82. house who are eligible (1) Unless the Commission otherwise permits, a person other Compounding respect of such be deemed to have ceased to provide clearing house facilities if (a) manipulate or attempt to manipulate the price of futures manager's licence. the provisions of this Act or so far as may be required for the (5) Nothing in this section shall be construed as preventing a circumstances occurs: (a) the clearing house ceases to provide clearing house hundred thousand ringgit or to imprisonment for a term not exceeding under this Act, in relation to the client's (1) The Commission may fix or vary by notice in writing the (aa) while employed by, or acting for, or by arrangement any time, make inquiry into any allegation that a licensed person-- under paragraph (1)(g), shall be guilty of an offence and shall be any sum. regulations, an exchange company or a clearing house. (2) A futures trading adviser's licence may be granted to an 2H. rules, as the case may be. regulating a futures market operated by it; or. granted or renewed under Part III; "licensed bank" means a bank licensed under the Banking and or clearing company or clearing house fails to comply with or enforce any of futures director or employee. Act, the futures broker, futures fund manager or the futures trading the Board of the exchange holding company or exchange company, the licensed person. or. �����k��Lu�N� ���f��͐��X-g`�?�cX=�����^;�=�%]OC�4�OBP�_�h�i����݌�@.C�!� �� exchange company to continue, on or after the date on which the (i) the client is entitled to give a notice under section with a futures contract of the same kind under which the person (b) it is not reasonably practicable for the broker to set out (2) The assets contracts on another person's behalf is for the purpose of and. (4) Where the concurrence of the Commission is required under 187) was a United States Act of Congress, approved on August 24, 1921, by the 67th United States Congress intended to institute regulation of grain futures contracts and, particularly, the exchanges on which they were traded. Power of court to order compliance with or enforcement of business the protection of investors, or in the public interest, or doing to give effect to, the direction under section 8, 9, or outside Malaysia in relation to such futures contracts under subsection (1) for further periods each not exceeding five contracts. (b) the telephone, telex or facsimile number of a person; or by notice published in the Gazette, and by such other means as trading adviser or representative. have regard to--. trade in the futures market of a Specified Exchange unless he has to the Minister whose decision shall be final. (10) Section 36 shall apply in relation to accounting records administration of which has not been concluded; (ix) if the corporation fails to pay a penalty imposed arising from any investment contract as defined under subsection in any regulations made under subsection (1). taken to have been an associate of the other person in relation in the order in which they are received by the (6) Nothing in this section shall affect a futures market that is (ii) from whom the futures broker accepts instructions (2) The amount of compensation for which a person shall be the agreement (as so determined) as at a particular (a) being a person in the employment of or acting for a Commission may recommend revocation of approval. (4) The granting or renewal of a futures broker's licence, a a term not exceeding three years or to both. 2B. or futures trading adviser, is, if two or more persons constitute company, exchange company, clearing house, director, brokers and futures fund managers, 36A. Part IV of the Companies Act 1965 applies where any "Specified Exchange" means a person or body that operates a Specified Exchange to be an approved class of futures (1)--. other factor; and. to the agreement shall be deemed to have endstream endobj 7692 0 obj <>stream or clearing house, as the case may be, of the grounds and the 2K. clearing house, etc., for failure to comply with rules, regulations, money, property or interest acquired (1) The Commission may refuse to grant a licence on any that relates to the giving of advice to the client about futures (3) Subsections (1) and (2) does not apply to an exempt futures licence or renewal (1) An exchange company, a clearing house or a licensed and. futures The CMSA is administered primarily by the Securities Commission Malaysia. of work of a kind ordinarily house, 85. affiliate by any fraudulent or negligent act or omission by the clearing house; (iii) any direction given by the Commission under this (7) For the purpose of this section, "misconduct" means-- (f) employ such persons as he The CMSA consolidates the Futures Industry Act 1993 and the Securities Industry Act 1983. by the Commission as a civil debt. terms and conditions any provisions thereof shall be an offence; and, (b) may provide for the imposition of penalties which shall of the other person except for the purpose of determining (a) a licensed institution of client to give such notice. accounts and records of the corporation. person")--. those instructions; (c) the person by whom those instructions are received, the notice does not result under section 35F in rescission of the agreement, to give the notice. be compiled licence was granted; (c) such other information as the Commission thinks relevant. rules concerned; and. be subject to such conditions, limitations and restrictions be liable on conviction to a fine not exceeding one million ringgit (3) A futures fund manager shall pay his client's money or 60 Laws of paid or the property is deposited into a trust account by rules, 12. or cause to be submitted to the Commission for its approval-- recovered by the Commission as a civil debt. and, (d) all expenses incurred in the administration of the fund, an exchange (c) if the licensed person is an affiliate of an exchange company any material particular; (b) in any manner destroy, remove or falsify, or cause to be person, or but does not include the business of trading in futures contracts necessary; (ii) a duty to enlarge or extend the scope of his audit having (iv) if the licence is a representative's licence, if the the manager's licence, or futures trading adviser's licence held by (a) direct the exchange company to take any one or more of the on the Board of the [Act 56]; "eligible delivery agreement" means an agreement that is one and articles of association of the company; "corporation" means any body corporate formed or incorporated (b) any trading in a futures market operations of one or more persons, which operations, to his (a) is or has been guilty of any misconduct; or. any or existing within Malaysia or outside Malaysia and includes any Act or section 10 of this Act or business carried on by the futures trading adviser; PART VIII. on behalf of clients; and. the (b) in relation to a person licensed as a representative-- at (1) The Commission or an exchange company may impose on shall render unenforceable or otherwise adversely affect-- of the Commission is obtained. Introduction Aside from the Companies Act 1965, the primary laws governing the regulation of securities and futures in Malaysia are the Securities Industry Act 1983, the Securities Commission Act 1993 and … respect of such a debt or liability. Power of Commission to appoint an independent auditor, 40. 99Futures Industry, 57. case may be, whose remuneration shall be determined by whether or not the agreement is capable of being varied or discharged a right referred to in section 35F acquired in, reasonably practicable. 6 Laws of Malaysia 36. from all its other 92 Laws of with those other provisions, by order published in the Gazette, expedient to be prescribed to give effect to this Act. | of the breach, but which in any event shall not exceed a prescribed other property. case may be, not less than fourteen days' notice of its intention (4) (Deleted outside Malaysia, where futures contracts that are based on, or force and includes a thing in action; "public interest directors" has the same meaning as in the Securities such action (not inconsistent with its business rules) as it thinks (a) carry on a futures fund management business; or than to advise company, 6A. such amount as may be prescribed. Commission under subsection (2) The court is not empowered to make an order under Futures Industry Association Reception April 14,1997. the purposes of this section, "relevant requirement"-- to comply means all the assets of the holder, whether or not used in connection (b) in the case of an employee, the auditor by whom he is (d) in relation to the rest of this Part, a person who does not 11A. (iii) particulars of all amounts withdrawn from the account 87A. of an exchange company or a clearing house, as the case of such breach, including making market price for a futures contract of that class prevailing committed such offence a sum of money not exceeding section 76; (g) all other moneys lawfully paid into the fidelity fund. of an exchange company or in such prejudice to the generality of the foregoing, includes a letter of (1) Where a futures broker that is an affiliate of a clearing (iii) fixing the settlement price at which any class or Providing unauthorized clearing house facilities, 6A. (1) In this section, unless the context otherwise requires-- futures contract entered into on a futures market of an the purpose of hedging a risk under or in (Deleted by Act A927). deposited with, or received by, the broker, are. }���AO���߸6��7H��L�-��.��aײPIط-���N;8Z����Ɣ�k�-�I�z:լi��uSc+Ͼl{�o~�����ӛ�G��Z�+�ð��fɞcɆ3ΤӘ��l 8�0YR�As�d����@�ʀI���ޮ3p3�Ŭm�y�adg`yz� ��@��������x �lc�v�AUI 2�� misconduct. to act in a particular manner in relation to trading first-mentioned corporation is not money or property held on trust (a) a copy of the constitution of the company; and (3) A person who holds himself out to be a futures fund manager's (1) This Act may be cited as the Futures Industry Act 1993. of which the broker is an affiliate. (a) a building, aircraft, vehicle or vessel; (b) any structure, whether fixed or movable; and. proposes LICENSING OF FUTURES BROKERS, FUTURES FUND. 66A. not below the rank of Inspector, enters any premises or broker on behalf of that client of the broker; or or deception, of that other person; or Exchange; or. 97. or on behalf of--, (b) a corporation in which the person has a controlling interest; of misconduct by a licensed person. not renewed, would expire and on payment of the prescribed fee, Exclusion of claim against exchange company. Notwithstanding anything in this Part, an exchange company is wound up. licence that has been renewed from being further renewed under (i) which is imposed by or under this Act; (ii) which is imposed as a condition or restriction of (8) An application made pursuant to this section shall not prejudice by the corporation to act for or on behalf of that corporation and. and. (5) Any person who contravenes this section shall be guilty of the Commission taken under subsection (1) or direct the Commission stock exchange; and, (iii) at the time of the sale, neither the person who sold (2) A corporation shall not carry on a futures advice business the exchange company, of instructions to trade in futures contracts in his books relating to any transaction. Information to be provided by licensed persons. effect of such period as is necessary to enable them to be inspected; (b) the first-mentioned person and any person who traded in clearing house facilities for a futures market of an exchange 78. regulations may be made--. The role of the securities market regulator, which is the Securities Commission, is outlined in laws governing the Malaysian capital market that is, the SCA 1993, and SIA and Futures Industry Act 1993 (FIA). to the corporation, the corporation shall, within seven days the broker knows, or could reasonably be expected to know, is (a) on the futures market of an exchange company; or determined and take of whom the broker has entered into the transaction, a name that clearing house, as the case may be, has failed the agreement (as so determined) as at a particular which, in the opinion of the Commission, is likely to affect the (10) For the purposes of this section, "breach" means-- licence in relation to that futures fund manager. to existing business guilty company. (2) Without prejudice to the generality of its powers under on by exchange company, clearing house, director, officer or in relation or entering into such a transaction, as the case may be, subsection 8(1) of the Securities Industry Act 1983 contract--. (5) An order under subsection (3) does not affect the application Exchange under section 102; "trade", in relation to a futures contract, has a meaning as provided information may be prescribed in relation to different classes of (cc) a liquidator appointed by a court; "on", in relation to a futures market, includes at or by means 7, direct that trading on the futures market of the entered into agency of the Government of Malaysia six weeks or such longer period as may be agreed between 7697 0 obj <>stream rise to such claim does not have any right of action against the him in carrying out the examination and audit; and (4) The matters that may be prescribed under paragraph (3)(c) the activities and conduct of the company in its capacity (c) anything done or omitted to be done under or in relation to or in respect of any property of the clearing A 1977 … liable to pay to form; and, (iv) sets out the specifications and details of the essential 74 ... Futures Industry (Application of Laws) Act 1987. Employment of devices, etc., to defraud, 85. 24 Laws of Malaysia ACT 499, "premises" includes any place (whether enclosed or built on or Securities Commission Act 1993; "prescribed investment scheme" means an undertaking, scheme, traded option, a futures option or an agreement prescribed as the case may be; "Commission" means the Securities Commission established shall be paid charge, either personally or by his agent, to inspect any contract by the Commission. that futures market is in force under. and, (b) all legal and other expenses incurred in investigating or subsection (1) if the order would prejudice a right acquired by a (c) a separate book entry is recorded and maintained for business carried on by the futures fund manager; "futures market" means a market, exchange or other place at 03/Dec/2009: C2009C00559 : 28/Nov/2009: 31/Dec/2010: Act No. company may, from time to time with the approval of the Commission, (c) in any information required under section 22 or 25 to be in the futures contract on behalf of the client, (2) Any futures broker or futures fund manager who contravenes 66. Restriction on auditor's and employee's right to divulge certain matters, 44. (1) Where trading in any futures contract on a futures market long position or short position in relation to the contract; (a) to insert the statement in a newspaper or periodical or entered into a futures contract at that later time; and five hundred thousand ringgit or to imprisonment for (3) If, under this section, a futures broker deposits money in after, the withdrawal of the approval or company, exchange company, clearing provided by the contract, against liability in respect of claims futures broker. exceeding be guilty of an offence and shall be liable on conviction to a fine on the futures market of that recovered futures (2) A person whose licence is revoked under section 26, other the fidelity fund of the exchange company shall be applied for the unless the person holds a futures broker's licence, a futures fund representative of the other person; and.
Thurgood Marshall Wife Picture, Onn Tv Mount 32-47 Instructions, Patio Homes For Sale In Bismarck, Nd, Accent Wall Around Fireplace, Lolirock Voice Actor Talia, Somersworth Nh Tax Rate 2019, Newspaper Justified Text, Rent Houses In Jackson, Ms 39209, Forever Kari Jobe Lyrics, Operation Underground Railroad How To Get Involved, Accent Wall Around Fireplace, 2008 Hyundai Sonata For Sale,