KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has reprimanded five former unit trust scheme (UTS) and/or private retirement scheme (PRS) consultants for the misconduct of submitting falsified academic certificates.
The breach of rules was committed in their application for registration and/or re-registration as a UTS and/or PRS consultant to their respective distributors.
In a statement today, FIMM said the following UTS and/or PRS consultants were found to be in breach of Rules 4.1.1, 4.2.1 and 4.3.1(f) and all have been barred from registration with FIMM for a fixed period of one year, effective July 10, 2025.
The consultants were Rahmat Anuar (UTS and PRS consultant of Public Mutual Bhd), Mohammad Faarid Khalid (UTS and PRS consultant of Public Mutual), Nur Maisarah John Abdullah (UTS Consultant of Public Mutual), Ahmad Rozailal Abdul Latiff (UTS Consultant of Kenanga Investors Bhd) and Mazni Ismail (UTS and PRS consultant of RHB Asset Management Sdn Bhd).
"These public reprimands are imposed to send a strong message that FIMM will take action against those who fail to comply with any rules issued by the federation.
"This is to deter UTS and/or PRS consultants from committing any misconduct and reminding them that it is crucial to observe FIMM’s rules when marketing and distributing UTS and/or PRS in Malaysia to protect the interests of the investing public,” it said.
FIMM added that these misconducts were reported by the public in the cases of Rahmat, Faarid and Maisarah, while those of Rozailal and Mazni were detected internally. - Bernama
