Datuk Kamarudin Meranun has entered into a settlement with the Securities Commission for RM3.64mil over the purchase of 5.55 million Malaysia Airlines Bhd (MAS) shares between Aug 1, 2011 and Aug 5, 2011.
The Guidelines also stipulate that the operator’s board of directors must be fit and proper and that on-going obligations will be imposed on the P2P operator such as ensuring compliance with platform rules, having in place an efficient and transparent risk scoring system for issuers.
To protect investors, a P2P operator is required to ensure that monies obtained from investors are placed in a trust account until the minimum target amount is met.
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