KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has reprimanded one former Unit Trust Scheme (UTS) and Private Retirement Scheme (PRS) consultant for his misconduct/breaches of FIMM’s Consolidated Rules (FCR).
In a statement yesterday, FIMM said a former UTS and PRS Consultant, Muhamad Hismalehafis Abdullah was found to be in breach of Rules 4.1.1, 4.2.1 and 4.3.1(f) of the FCR for submitting a falsified academic certificate as part of his application for registration as a UTS and PRS Consultant to the distributor.
Muhamad Hismalehafis is a UTS and PRS consultant of Manulife Investment Management (M) Bhd.
“He has been barred from registration with FIMM for a fixed period, with public reprimand pursuant to Rule 6.6.1(b)(ii) of the FCR; and barred from registration with FIMM in respect of both UTS and PRS for two years effective Oct 2, 2025 pursuant to Rule 6.6.1(b)(x) of the FCR,” it said in a statement.
FIMM said the disciplinary committee’s decision was imposed after factoring in the various mitigating and aggravating factors applicable to the case.
“This public reprimand is imposed to send a strong message that FIMM will take action against those who fail to comply with any rules issued by FIMM.
“This is to deter UTS and/or PRS consultants from committing any misconduct and to remind them that it is crucial to observe FIMM’s rules when marketing and distributing UTS and PRS in Malaysia.” — Bernama
