• Policy document sets out requirements of equity investments; approval and notification requirements relating to equity interests held by financial institutions in corporations.

Requirements

• Financial institution must obtain MLY CB’s prior written approval for establishment or acquisition of subsidiary, any direct or indirect acquisition or holding of material interest in a corporation, 33% or more of voting power, or as required by MLY CB.
• Unless otherwise approved, a financial institution must ensure all existing holdings of material equity interest in non-financial corporations are compliant by 31 December 2021.

Effectiveness

• This policy document comes into effect on 1 January 2020.