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.
