• MAU FSC issued communique on draft legislation for public consultation.

Legislation Proposed

• Securities (Amendment) Act 2023 provides various new definitions throughout the act.
• Financial Services (Amendment) Act 2023 provides amendments to provide license.
• Securities (Central Depository, Clearing and Settlement) (Amendment) Act 2023 on establishment of rules and procedures to safeguard rights of securities issuers.
• Securities (Consumer Duty) Rules amends duties for delivery of positive outcomes.
• Securities (Record Keeping) Rules 2023 amends the preliminary part in the interpretation of the rules, record keeping requirements for various situations.
• Securities Takeover (Amendment) Rules 2023 amends a number of principle rules.
• Securities (Licensing) (Amendment) Rules 2023 outlines principal rules and liquidity requirements; and Securities (Disclosure Obligations of Listed Companies) Rules 2023.

Effectiveness

• Comments and feedback on the amendments are expected by 9 February 2024.