Bursa Malaysia plans new measures to enhance investor protection
A number of initiatives to enhance investor protection and achieve regulatory parity, provide shareholders with appropriate information for well-informed investment decision-making, and enhance sales practices for unlisted products are to be implemented by Bursa Malaysia. The threshold for shareholder approval relating to a listed company disposing all, or substantially all, of its assets resulting in it being no longer suitable for continued listing on Bursa Malaysia (asset disposal) is raised to 75%. This will apply to all new asset disposals announced on or after 28 January 2011. This ensures that shareholders of listed companies will receive the same degree of protection regardless of the route that is chosen to privatize the company. The Securities Commission will provide guidance on the interpretation of the standard of ‘fair’ and ‘reasonable’ that is applied by independent advisers in assessing take-over offers. A set of integrated measures to streamline the categories of investors and enhance the sales practices regime, which balances investors’ needs for appropriate levels of protection, market growth and product innovation, will be introduced.
Korea Exchange revises regulations of margin system of its derivatives market
In order to reduce the risks associated with the non fulfillment of settlement obligation by institutional investors, the Korea Exchange has revised the regulations related to the ex-post margin and position limit in its derivatives market.