The Securities Commission.
PETALING JAYA: The Securities Commission (SC) has revoked the Capital Markets Services Representative’s Licence (CMSRL) of Lim Chee Kuang on the basis he had submitted false and misleading information to the regulator in relation to his CMSRL application.
In addition to revoking the licence, the SC imposed a reprimand against Lim for failing to comply with the conditions of his licence which requires him to remain fit and proper at all times.
This is going by what is provided under Paragraph 7.03(1) of the SC’s Licensing Handbook.
“Submission of a false or misleading statement to the SC in connection with an application for a CMSRL is a serious offence under section 71 of the Capital Markets and Services Act (CMSA) 2007, which could result in the revocation of the same.
“As such, the SC finds that Lim is no longer fit and proper to carry out regulated activities in the Malaysian capital market,” said the SC in a statement.
Lim, who was formerly with UOB Kay Hian Wealth Advisors (M) Sdn Bhd, had not filed any appeal against the SC’s decision within the prescribed time provided under the CMSA.
