SIDREC Mediation Services for Monetary Claims in Malaysia

Sidrec 2022 Medication Width

Below are some of SIDREC’s milestones:

In September 2015, SIDREC’s purview was expanded to include the regulated activity of dealing in PRS.

In September 2016, the Regulations were amended to include commercial banks, Islamic banks and specified DFIs, who are Registered Persons under the CMSA, as SIDREC Members.

Between 2017 and 2018, the Voluntary Scheme was introduced as part of efforts to provide for a broader investor base to have access to SIDREC’s services. This expanded scheme enabled SIDREC to provide the following services at a reasonable fee: • Mediation and adjudication services to investors and SIDREC Members with monetary claims exceeding RM250,000. • Mediation services for courtreferred disputes.

In 2020, leveraging its past experiences, SIDREC spearheaded the provision of Online Dispute Resolution (ODR) services in a more structured manner following the spread of COVID-19 and the implementation of movement restrictions. In 2021, SIDREC forged ahead with ODR, with all concerned getting more accustomed to going virtual and ODR processes further refined.

In 2022, SIDREC was recognised by the courts as an institution that provides mediation services through Arahan Amalan Ketua Hakim Negara Bilangan 2 Tahun 2022 Urusan dan Tatacara Pengantaraan (Mediasi) Bagi Kes di Mahkamah Tinggi dan Mahkamah Rendah. This enables SIDREC to expand its reach to the investing public as it facilitates the resolution of capital market-related monetary disputes through mediation in its endeavours to heighten investor protection.