SC announces new appointments, confirms resignation of MD

KUALA LUMPUR: The Securities Commission (SC) has appointed Yew Yee Tee and Shamsul Bahriah Shamsudin as general counsel and director respectively.

The regulator, in a statement, said their appointments, which were made on April 19, will take effect on July 1, 2022.

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Yew is currently the executive director of intermediary & fund supervision. Prior to joining the SC in 2020, she was the chief regulatory officer of Bursa Malaysia Bhd.

She will succeed Chee Fei Meng, who had opted not to renew her contract when it ended on April 15.

To facilitate a smooth transition, Chee will continue to serve the SC until June 30.

Meanwhile, Shamsul Bahriah is currently the head of institution supervision and has served the SC for 19 years. She will succeed Yew as director of intermediary & fund supervision.

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The SC also confirmed the resignation of its managing director Foo Lee Mei, who, on April 6 had opted to terminate her contract earlier. Foo will serve her notice until May 20.

Additionally, executive director of digital strategy & innovation Chin Wei Min had, on April 28, tendered his resignation and will serve his two-months’ notice.

The SC has already identified an internal candidate to replace Chin, subject to endorsement and formalisation, and an announcement will be made in due course.

“The SC would also like to stress that contrary to recent media speculation, the resignation of its managing director and general counsel are not linked to, and were made prior, to the announced resignation of its executive chairman yesterday,” it said.

Yesterday, the Finance Ministry announced that it had appointed former deputy finance minister Datuk Awang Adek Hussin as SC chairman effective June 1, following the resignation of Datuk Syed Zaid Albar.