SC enforcement wins a win for corporate governance
Stephanie Jacob | 15 Mar 2019 00:30
The Securities Commission Malaysia’s (SC) enforcement actions in 2018 resulted in 14 criminal charges being made and over RM30 mil in disgorgements and fines being imposed by the courts on wrongdoers.
Chairman Datuk Syed Zaid Albar also highlights that the courts had imposed custodial sentences in six of the cases which he says “reflect increasing judicial recognition on the gravity of securities offences.”
He made the comments at a press briefing after the release of the regulator’s Annual Report 2018 on March 14.
Syed Zaid took the helm in November 2018.
Meanwhile, the SC imposed a total of RM6.39 mil in penalties in 2018, up 127% higher from the RM2.81 mil meted out in 2017, according to the report.
This was on the back of a sharp increase in administrative sanctions to 80 imposed in 2018 from just 32 in 2017.
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