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The function of the Association
of Stockbroking Companies Malaysia has always
and will always be to promote the interest of the stockbroking
companies by providing a unanimous "brokers" voice to
relevant authorities and the public.
It also actively participates in all issues
directly relating to the development
and progress of the stockbroking industry and to help
realise the Government's vision of transforming Malaysia
into a regional financial centre.
Towards this the ASCM
and its Management Committee work very closely with
the Ministry of Finance, the Securities Commission and
the Bursa Malaysia Securities Bhd. on a diverse range of
operational and policy issues.
Although industry consolidation may reduce our membership
numbers, this essential process will transform our members
to stronger and more resillient entities.
Another important role played by the ASCM
is in the promoting, protecting and upgrading the level
of professionalism within the stockbroking community.
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ASCM's inception dates back to July 31, 1986,
when it was first registered as the Malaysia Stockbrokers
Association, and began with an initial membership of
26 brokers- today due to the rapid development of the
local capital market, we now boast a membership of 37
brokers nationwide.
Our
home is located on Level 12A. Menara Olympia, strategically
located across from the Bursa Malaysia Securities Bhd.,
providing a suitable meeting place for all brokers to
hold discussions amongst themselves and other parties.
The
ASCM is run by a
Management Committee comprising of nine stockbrokers
who are elected by members at our Annual General Meeting.
The basic function of the Management Committee is
to represent the broking fraternity in discussions
with
authorities as well as to oversee the general running
of the ASCM.
At
the working level, we have also established numerous
sub-committees to address industry specific issues.
Among them include the Capital Market Development Sub-committee,
Business Operations Sub-committee and Professional Practices
Sub-committee. The true test of the ASCM
is to ensure it takes on the challenge of enhancing
our members' operations and services, to face the current
structural and market changes, not forgetting legal
and regulatory developments, new products and financial
instruments.
Once
these challenges and changes are surmounted it will
only lead to greater level of sophistication and integrity
of the Malaysian capital market generally and the local
stockbroking industry specifically. This is the mutual
aim of the ASCM
and the regulatory authorities.
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