THE Chairman of the Securities Commission Malaysia (SC), Dato’ Mohammad Faiz Azmi, has urged Malaysian students studying abroad to return home and contribute to building a nation grounded in sound governance and integrity.
Speaking at the Malaysian Student Leaders’ Summit XIX (MSLS XIX), organised by the United Kingdom and Eire Council for Malaysian Students (UKEC), Faiz highlighted the need to emulate the Merdeka generation, whose sense of duty and sacrifice helped shape modern Malaysia.
“By all means, see the world and yes, work abroad if you can. But come home. Come home and help improve the country to be better governed, create a better growth path for the economy and help those who have been left behind,” he said.
Returning as keynote speaker, Faiz praised the summit for cultivating purpose-driven leadership and reminded attendees that Malaysia remains a nation of opportunity—one blessed with relative stability, natural advantages, and a growing middle class.
Turning to the theme ‘Stewarding the Future: Regulatory Integrity in a Shifting Malaysia’, he reflected on the SC’s role in safeguarding Malaysia’s RM4.1 trillion capital market, and the institution’s current strategic review to chart the capital market’s direction for the next two decades.
He said the market must be made more vibrant, deliver real returns, and be better equipped to fund climate adaptation and regional cooperation—especially in a post-reform political era.
Central to this vision is the upholding of regulatory integrity, a concept he said extends far beyond enforcement.
Quoting the Prime Minister, Datuk Seri Anwar Ibrahim, he reinforced the national stance on ethical governance, stating: “Corruption is a cancer that must be eradicated… No one, regardless of position or political affiliation, should be above the law.”
“Our economic progress must be built on ethical foundations, not cronyism or rent seeking.”
Faiz outlined the SC’s three-tiered regulatory philosophy—self-discipline, market discipline, and regulatory discipline—stressing the shared responsibility of all market participants to uphold trust and accountability.
“People commit crime and cheat. Therefore, the values and morals of people in the capital markets must conform to acceptable norms,” he said, referencing tools such as the Malaysian Code on Corporate Governance (MCCG) and the newly introduced ‘Maqasid al-Shariah’ guidance, which embeds Islamic principles into business ethics.
He highlighted the role of oversight institutions such as the Minority Shareholders Watch Group, Institutional Investors Council, and a free press in reinforcing discipline and surfacing inefficiencies.
“Being stupid is not a crime,” he said, “but doing things in a ‘cin cai’ way that destroys value and causes losses still needs to be addressed.”
When serious breaches occur—such as insider trading or market manipulation—the SC acts firmly, consistent with its mandate and the rule of law, which he described as the cornerstone of investor confidence and institutional trust.
“The rule of law ensures that everyone, regardless of position, is subject to the same legal standards. It is about justice, consistency and transparency,” he said, citing the enduring relevance of the Magna Carta and Malaysia’s own legal legacy.
The rule of law, he stressed, is especially vital in dealings with foreign investors who expect predictability and fairness in regulatory oversight.
Faiz also addressed the SC’s dual role in regulating and developing the capital market. From a size of RM600 billion in the early 1990s, the capital market has grown nearly seven-fold—a testament to strategic facilitation.
“Not everything we encouraged over the last 30 years has worked,” he admitted, citing digital assets and carbon markets as still evolving. “But this second mandate of market development is to reassure the market that we too have an interest to grow the market.”
He concluded by inviting purpose-driven graduates to consider joining the SC, describing it as a place where ambition and public service intersect:
“To those of you who want to work in the corporate sector but at the same time want to do something for our society and country, do come join me at the Securities Commission to make a difference.” - August 3, 2025
