Page 59 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

EnFoRcEMEnT HIGHLIGHTS 2018
The SC continues to focus its enforcement efforts to achieve credible deterrence and instil a
culture of good governance among market participants.

ADMINISTRATIVE CIVIL CRIMINAL
ACTION ENFORCEMENT PROSECUTION

Holding professionals RM9,259,608.60 disgorged 14 criminal charges were
and directors from 18 individuals for preferred against
accountable for their insider trading and market 8 individuals in 2018
misconduct: manipulation

80 administrative sanctions
were imposed: Disgorgement of illegal Judicial recognition on
proceeds from market the gravity of securities
• 32 reprimands abuse: offences:
• 3 licences revoked
• 1 licences suspended 1. Insider trading by one
• 32 penalties totaling individual: 1. Fines between RM70,000
RM6.39 million imposed to RM7 million against
• 10 directives • Ordered to pay 7 individuals, totaling
• 2 public statements RM3,238,760.55 – RM19.27 million
against retention of 3 times the loss
public office by a director avoided 2. 6 individuals sentenced
between 6 months to
• Civil penalty of 5 years of imprisonment
Penalties and reprimands RM500,000 imposed for:
were imposed in various by High Court
entities, their directors,
reporting accountant 2. Market manipulation by 7 • Committing insider
and principal adviser for, individuals: trading with the
among others: disposal of 350,000
• Consent judgement shares while in
1. Knowingly authorising for 3 times the profit possession of
the furnishing of false earned, amounting to material non-public
or misleading financial RM3,073,231.92 information
statements to Bursa
Malaysia • Joint civil penalty of • Furnishing false
RM750,000 statements to Bursa
2. Failure to disclose material Malaysia in relation
developments relating • Barred from being to fictitious purchases
to its listing on the Main directors of PLCs and
Board of Bursa Malaysia from trading on Bursa worth RM119 million
Malaysia for 5 years
3. Failure to conduct proper • Defrauding a
due diligence during a co-operative of
listing exercise, in breach RM350,000 by
of the Guidelines of Due representing to be a
Diligence Conduct for remisier when he was
Corporate Proposals not licensed

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