A STATEMENT from the two capital market regulators – the Securities Commission (SC) and Bursa Malaysia – has taken the market by surprise.

In their joint statement this week, one line stands out: “As market discipline continues to strengthen, the SC and Bursa will proportionately scale down the intensity of regulatory discipline”.

The true meaning of what that would entail, though, isn’t clear at this point.

The statement has also taken a number of working-level people at the regulators by surprise.

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