SC issues enhanced guidelines on Prospectus Disclosures

KUALA LUMPUR: Securities Commission Malaysia (SC) today released the revised prospectus guidelines, which will come into effect on March 1, 2018, as part of its on-going efforts to promote informed investment decisions.
These enhancements, among others, include introducing a structured and concise prospectus summary not longer than 10 pages at the front of prospectuses and excluding information that is already publicly available to investors. With these, investors will benefit from a more reader-friendly and less cumbersome prospectus.
The prospectus guidelines will also provide specific guidance for issuers and principal advisers on SC’s expectations in complying with the requirements.
The review of the guidelines was carried out following jurisdictional benchmarking and extensive consultations with key stakeholders including principal advisers, legal advisers, reporting accountants, research analysts and investors.
The revisions to the prospectus guidelines will help ensure that a prospectus continues to serve its purpose in providing important information to facilitate investment decisions.
SC is encouraging principal advisers and issuers to adopt the revisions earlier than the Marc 2018 date, so that investors can avail themselves of the benefits immediately.
The revised prospectus guidelines are available at www.sc.com.my.