The Securities Commission Malaysia (SC) stated

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  • 16 Apr 2020
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Only 59 Percent of Malaysia Public Listed Companies Have Anti-corruption Policies in Place

The Securities Commission Malaysia (SC) stated in its 2019 annual report, that it had reviewed the anti-corruption policies of listed companies in light of the corporate liability provision (Section 17A3) in the Malaysian Anti-Corruption Commission Act 2009, which comes into force on June 1, 2020. The review found that only 59 percent of listed companies in the country had anti-corruption policies in place. It noted that the majority of policies in place required enhancements to bring the in line with the Guidelines on Adequate Procedures issued by the Prime Minister’s Department. The SC said its anti-corruption committee was established on April 1, 2019 to identify improvement opportunities to strengthen governance, integrity and anti-corruption measures within the SC. This was in response to one of the key priorities in 2019 which outlined the implementation of holistic anti-corruption measures for the SC and the capital market in line with the National Anti-Corruption Plan 2019-2023.

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