Frequent question: What is regulatory body in Malaysia?

What is meant by regulatory body?

A regulatory body is a public organization or government agency that is set up to exercise a regulatory function. This involves imposing requirements, conditions or restrictions, setting the standard for activities, and enforcing in these areas or obtaining compliance.

What are the regulatory bodies in Malaysia in the financial market?

Bank Negara Malaysia (BNM) Securities Commission Malaysia (SC) Labuan Financial Services Authority (Labuan FSA) Malaysian Stock Exchange (Bursa)

What is an example of a regulatory body?

A regulatory body is a public or government agency created to oversee specific industries and practices. An example of a media regulatory body is OFCOM, a independent UK regulator for the UK media and communications industry.

What are the types of regulatory bodies?

The Six Types of Regulation

  • Laws which impose burdens.
  • Laws which directly confer rights and/or provide protection.
  • Self-regulation.
  • Licensing bodies and Inspectorates.
  • Economic regulators.
  • Regulators of public sector activities.

Who are the 4 main regulators of finance sector?

Responsibility for the regulation and supervision of the Australian financial system is vested in four separate agencies:

  • the Australian Prudential Regulation Authority (APRA);
  • the Australian Securities and Investments Commission (ASIC);
  • the Reserve Bank of Australia (RBA); and.
  • the Australian Treasury.

What are the three regulatory agencies?

Terms in this set (16)

  • Consumer Product Safety Commission (CPSC) …
  • Environmental Protection Agency (EPA) …
  • Equal Employment Opportunity Commission (EEOC) …
  • Federal Aviation Administration (FAA) …
  • Federal Communications Commission (FCC) …
  • Federal Deposit Insurance Corporation (FDIC) …
  • Federal Reserve System (the FED)

Which is the regulatory body for banks in Malaysia?

Bank Negara Malaysia (BNM) is empowered to act as the regulator of banking institutions under the FSA, the IFSA and the Central Bank of Malaysia Act 2009 (CBA). BNM has broad powers of supervision and control over banking institutions licensed under the FSA and the IFSA.

Are Malaysian banks safe?

Malaysian banks are pretty safe but

Whether it may be diversification for the banks you are banking with or the type of products that you choose or even your type of investments, diversification helps to protect your finances in the event of an economic downturn.

What is dual banking system in Malaysia?

Malaysia’s approach towards Islamic banking is unique whereby a dual banking system was introduced where Islamic and conventional banks operate side by side. The Interest-free Banking Scheme (IFBS) was launched in March 1993 which allowed the conventional banks to offer Islamic banking products and services.

What is the purpose of a regulatory body?

A Regulatory Body is an ORGANISATION. A Regulatory Body is appointed by the Government to establish national standards for qualifications and to ensure consistent compliance with them.

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