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Dealer reprimanded, fined for unlawful trading
by hlk Thu 03 Nov 2011, 17:56
Bursa Malaysia Securities Bhd has publicly reprimanded Zainol Abidin Ahmad for engaging in unlawful and unethical trading activities in the securities of Suria Capital Holdings Bhd and Pilecon Bhd warrants.
He was fined RM10,000 and will be striked off from the Register as a dealer's representative (DR), said the bourse operator in a statement today.
Zainol, during the time of the breach was a salaried DR of HwangDBS Investment Bank Bhd, and had triggered and breached the provisions of Rules 1302.1 (1)(a)&(g), 401.1(1)(f), 404.3(1)(a)&(b) and 1302.1(1)(i)(iii) of the Bursa Securities rules.
The bourse viewed misconduct that compromised the integrity and honesty of registered persons seriously as registered persons, including DRs, were required to uphold the interest of their clients and the investing public.
The exchange said it would not hesitate to take appropriate action against anyone who engaged in such conduct, including striking off a registered person from the register, commensurate with the severity of the breach. -- Bernama
He was fined RM10,000 and will be striked off from the Register as a dealer's representative (DR), said the bourse operator in a statement today.
Zainol, during the time of the breach was a salaried DR of HwangDBS Investment Bank Bhd, and had triggered and breached the provisions of Rules 1302.1 (1)(a)&(g), 401.1(1)(f), 404.3(1)(a)&(b) and 1302.1(1)(i)(iii) of the Bursa Securities rules.
The bourse viewed misconduct that compromised the integrity and honesty of registered persons seriously as registered persons, including DRs, were required to uphold the interest of their clients and the investing public.
The exchange said it would not hesitate to take appropriate action against anyone who engaged in such conduct, including striking off a registered person from the register, commensurate with the severity of the breach. -- Bernama
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