25 August 2023
On 1 August 2023, the Securities Commission Malaysia (“SC”) issued the Guidelines on Technology Risk Management. The Guidelines aims to strengthen practices related to technology risk management among capital market entities and is expected to come into force in the third quarter of 2024.
The Guidelines set out, among other things, the roles and responsibilities of the board of directors and senior management in overseeing and managing technology risk, the framework, policies and procedures that should be implemented by capital market entities and requirements to manage technology risks. The Guidelines will be applicable to all capital market entities licensed, registered, approved, recognised or authorised by the SC.