TITLE : SECURITIES COMMISSION ANNUAL REPORT 1998.

 
CONTENTS
 
CHAIRMAN'S STATEMENT 												3
 
MEMBERS OF THE SECURITIES COMMISSION                               13
 
1998 CAPITAL MARKET REVIEW                                         19
	GLOBAL REVIEW                                                  20
	DEVELOPED MARKETS                                              30
	REGIONAL MARKETS EX-JAPAN                                      42
	MALAYSIA                                                       56
	OUTLOOK                                                        78
	DEVELOPMENTS IN GLOBAL DERIVATIVES MARKETS	                   82
 
1998 DEVELOPMENTAL REVIEW                                          97
 
FEATURE ARTICLES                                                  107
	CHALLENGES FOR FINANCIAL MARKET REGULATION IN
    TURBULENT TIMES: A REVIEW                                     108
	HEDGE FUNDS: CURRENT ISSUES AND CONCERNS                      114
	ROLE OF REGULATORS IN INVESTOR EDUCATION                      118
 
1998 OPERATIONAL REVIEW                                           123
	CORPORATES                                                    124
	FUND MANAGEMENT AND COLLECTIVE INVESTMENT SCHEMES             134
	MARKET INSTITUTIONS                                           138
	MARKET INTERMEDIARIES                                         144
	ENFORCEMENT AND PROSECUTION                                   154
	EDUCATION AND TRAINING                                        158
	INTERNATIONAL AFFAIRS                                         162
 
INTERNAL REPORT                                                   165
 
STATEMENT OF ACCOUNTS                                             171
 
APPENDICES                                                        185
	1998 CALENDAR OF EVENTS                                       186
	ACTS, GUIDELINES, RELATED PRESS RELEASES AND THE SECURITIES
    COMMISSION'S PUBLICATIONS                                     195
    MANAGEMENT DIRECTORY                                          198
	ORGANISATION CHART                                            200