Following the issuance of the Exposure Draft of the Bancassurance/Bancatakful Policy Document on 30 August 2021, Bank Negara Malaysia has issued the final Bancassurance/Bancatakaful Policy Document on 30 June 2022. The objectives of the Policy Document are to: ensure bancassurance/bancatakaful remains as a viable and accessible channel for consumers to purchase insurance and takaful products; promote sound market conduct practices that safeguard consumers’ interest through needs-based sales, disclosure and enhanced transparency; and promote market competitiveness and preserve consumer choice.
On 28 December 2021, the Securities Commission of Malaysia revised the Rules on Take-overs, Mergers and Compulsory Acquisitions (Rules). The effective date of the revisions is 29 December 2021. This Alert focuses on the key amendments introduced to the Rules and a comparison against equivalent provisions under the United Kingdom’s Takeover Code, the Singapore Code on Take-Overs and Mergers and the Hong Kong Codes on Takeovers and Mergers and Share Buy-Backs.