How to Become a Remisier in Malaysia

A remisier is a dealer's representative paid by commission rather than salary. Legally, both trade under a Capital Markets Services Representative's Licence (CMSRL) for the regulated activity of dealing in securities, issued by the Securities Commission Malaysia under the Capital Markets and Services Act 2007. You cannot hold it on your own: a Participating Organisation of Bursa Malaysia Securities (a stockbroking firm holding a Capital Markets Services Licence) must apply for you as its representative.

The steps

• Pass the exams. SIDC Modules 6 and 7 (or 6 + 18, 7 + 17, or 17 + 18). Fees at RM2,500 for the pair as a Malaysian resident, one attempt each.
• Join a Participating Organisation. The firm sponsors your licence application and supervises you.
• Be fit and proper. Every applicant must be fit and proper under sections 64 and 65 of the CMSA, including the competency requirements for representatives (Licensing Handbook para 4.01).
• Apply for the CMSRL through your firm within two years of passing the modules.
• Keep it: meet the continuing professional education (CPE) requirement in the Licensing Handbook, administered by SIDC as the CPE Secretariat.

How many people do it

Dealing in securities is by far the largest licensed group: about 6,700 of roughly 10,300 CMSRL holders at mid-2022 (SC quarterly reports), and 441 of the new licences approved in 2022 (Bernama, 27 March 2023).

Start with the Module 6 and 7 guide and the free mock. SIDC Prep covers both modules in one pass.

SIDC Prep is an independent study service. It is not affiliated with, endorsed by or connected to the Securities Industry Development Corporation (SIDC), the Securities Commission Malaysia (SC) or Bursa Malaysia. 'SIDC' is used only to describe the examinations. Figures are SIDC's and the SC's and can change; confirm on sidc.com.my.