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Bursa slaps RM100,000 fine on dealer for manipulating Tomei shares

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Bursa slaps RM100,000 fine on dealer for manipulating Tomei shares Empty Bursa slaps RM100,000 fine on dealer for manipulating Tomei shares

Post by Cals Thu 17 Apr 2014, 01:18

Bursa slaps RM100,000 fine on dealer for manipulating Tomei shares
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Wednesday, 16 April 2014 18:05

KUALA LUMPUR (Apr 16): Bursa Malaysia Securities Bhd has publicly reprimanded, imposed a fine of RM100,000 and ordered to strike off a dealer’s representative for engaging in manipulative dealings in the securities of Tomei Consolidated Bhd.

In a statement, the stock exchange said Goh Hong Lim, a commissioned dealer’s representative of HwangDBS Investment Bank Bhd, had contravened the Pre-Revamped Rules of Bursa Malaysia Securities.

The stock exchange said it would not hesitate to take appropriate action, commensurating with the severity of the breach, against anyone who engaged in such misconduct.

This includes striking off a registered person from the register and imposition of fines, it added.

“We will not tolerate any acts or practices which could lead to false trading, manipulative activities and/or compromise the integrity of the market,” said Bursa.

“Bursa Malaysia Securities places a strong emphasis on the need to maintain a fair and orderly market,” it said.
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