Page 193 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

entities. Conversely, during the year, the SC also Sanctions imposed on the parties in breach
rendered assistance to 6 foreign supervisory comprised reprimands, revocation and suspension of
authorities in relation to 10 requests for investigative licences, imposition of penalties and directives and
assistance. issuance of public statements (Table 2).

In 2018, a total of RM6.39 million in penalties were
Administrative actions imposed against the following parties:

In 2018, 80 administrative sanctions were • A company applying for listing and certain of
imposed by the SC for various misconducts and its directors for failure to inform the SC and
breaches of securities laws including making false a principal adviser of material developments
or misleading statements to the SC, breaches of prior to its listing;
licensing conditions, failure to comply with approved
accounting standards in the preparation of audited • A reporting accountant and a principal
financial statements and for late submission of adviser for failure to inform the SC of material
documents under the Lodge and Launch (LOLA) developments to a company applying for
Framework. listing prior to its listing;

Table 2
Administrative actions taken in 2018 by types of sanction and parties in breach
Parties in breach Types of sanction

Revocation/ Issuance of
Reprimand Suspension of Penalty Directive Public
Licence Statement
Persons acting in concert 2 - 2 1 -
Licensed persons 3 4 12 - -
Registered persons - - 2 -

PLCs or company applying for 5 - 2 3 -
listing
Directors of PLC or company 17 - 9 - 2
applying for listing
Unlisted public company 1 - - 4 -
Reporting accountant 1 - 1 1 -

Principal adviser 2 - 1 1 -
Other individuals 1 1 - 3 - -
ToTAL 32 4 32 10 2

Note:
1 An individual carrying out a regulated activity without holding a licence, a person who had knowingly provided false information to
an investigating officer of the SC and a person who at the material time was the managing director and CEO of an investment bank

PART 5 »» STATEMENTS, STATiSTiCS ANd ACTiviTiES | 183

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