Bursa Securities strikes off dealer's rep from register for misconduct

KUALA LUMPUR (Bernama) -- Bursa Malaysia Securities Bhd has struck off a commissioned Dealer’s Representative from its Register for involvement in unlawful/unethical trading activities/practices.

In a statement, the stock exchange said it had also reprimanded and imposed a fine of RM28,500 on Mohd Ikmal Zulkifli.

It said the representative had engaged in misconduct involving unauthorised trades in the accounts of two clients and misapplication of one of the clients’ trust monies gains to settle his unauthorised purchases.

"We view misconduct seriously as it impinges on the professional conduct and integrity of the registered persons and compromises clients’ protection.

"Misconducts may adversely affect and damage market integrity and public confidence,” it said.

Mohd Ikmal, at the material time of the breaches, was a commissioned Dealer’s Representative of RHB Investment Bank Bhd at its Pandan Indah branch.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3


Next In Business News

Tesla CEO Musk puts US$100mil jolt into quest for carbon removal
Start-ups aim to change car battery recycling including in Malaysia
Oil price steady as Libya output decline offsets risks to Asian demand
GLOBAL MARKETS - Wall St falls on capital tax increase angst
Mah Sing aims to be among Top 5
EU eyes ‘re-engineering’ of global finance with green standards
Petronas Chemicals sees increased income
Aerospace industry to rebound next year
Vitrox Q1 net profit rises to RM31mil
Nazir Razak is Bank Pembangunan chairman

Stories You'll Enjoy