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.
ASCM’s inception dates back to July 31, 1986, when it was first registered as the Malaysia Stockbrokers Association. Today we have a membership of 26 brokers nationwide.
Our home is located in Petaling Jaya, strategically located near to the Securities Commission, providing a suitable venue for industry players and regulators to hold meetings and discussions.
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.